The snow finally left us in March and as the month progressed I did see 'limited' evidence of Buyers starting to look.
Interestingly though, many times I saw in the feedback, "this was just a fact-finding mission'.
If we think about it logically, Buyers coming up from Vancouver and the Lower Mainland have seen quite a downturn in their own Markets, which they haven't been used to for some time, and a number of Buyers looking to move from Alberta, are having difficulty selling their homes.
This translates into negative sentiment about the Real Estate Market, in general, and they are thinking the market is going to fall further, so they will wait.
I can certainly understand why they would say that, with inventory rising and sales relatively slow.
The biggest concern across the whole Canadian Real Estate Market is the Mortgage Stress Test. This is not only affecting First-Time Buyers (who are the Engine Room of the Market), but also Buyers well up the chain. I am hearing evidence of many...