Home Sales Will Fall

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Canadian Home Sales Will Fall Over Next 2 Years, CMHCForecasts ‘

**The housing market will see “moderation” in thecoming years, the government-run mortgage insurer says. **geand Housing Corp. projects housing starts and sales are both expected todecline in 2019 and 2020.

OTTAWA — Canada Mortgage and Housing Corp.says the country’s real estate market is expected to moderate over the next twoyears as the growth in housing prices

is expected to slow to more in line witheconomic fundamentals.

In its 2018 housing market outlook releasedtoday, the national housing agency projects housing starts and sales are bothexpected to decline in 2019 and 2020.

Watch: This is Canada’s most expensive condo(story continues below)

It predicts housing starts for single andmulti-unit starts will fall to between 193,700 and 204,500 in 2019, while salesare anticipated to be between 478,400 and 497,400 units.

Prices are anticipated to range between$501,400 and $521,600.

CMHC says it expects economic indicators likeincome and employment to continue to help support demand for housing starts,but these fundamentals

are anticipated to slow down to a moresustainable pace.

Rising mortgage rates are also expected toaffect housing demand and the resale market.

By 2020, CMHC anticipates demand willcontinue to shift towards relatively less expensive housing options likeapartment condominiums versus higher-end single-detached homes.

"Over our forecast horizon, housingstarts are projected to decline from elevated levels recorded recently.

Resales should also moderate while houseprices are expected to reach levels that are more in line with thefundamentals,"

Bob Dugan, chief economist at the CMHC, saidin a statement.


When Home Sales Fall, Buyers Markets, a market in which conditions favor those willing to purchase a property, typically/usually follow a hot real estate market, and can be a great time for new inspectors to enter the marketplace. Moreover, home buyers markets are a critical time for recently opened home inspection businesses to establish themselves. To solidify their name/brand. Insure market share while lowering advertising costs.

Once the sellers market reappears, to which it eventually will, established home inspection businesses are in a solid position to ride out any rough patches. No one knows this more than Ontario home inspectors.

When homes sell for less than the previous year, individuals that hedged a house purchase, sat on the fence due to high home sales costs and the mortgage they could afford, can now seriously consider entering the real estate marketplace and purchase a home. And with that purchase, comes a home inspection.:slight_smile:

1: An inspection report can be used for various reasons. Even through home ownership.
A: A re-negotiation tactic, or to avoid the purchase all together.
B: Per sales inspections. An effective as a tool as well. To insure the vendor understands the condition of the home. Faster sales.
C: For currently purchased homes, when the market place was at its highs, a post purchase inspection. Reports help uncover what the homeowner purchased. That report can be used as an maintenance guide while uncovering any problems.

From my point of view, hearing Home Sales Will Fall is an opportune time for all home inspectors. But none more so than new inspectors awaiting to enter the home inspection marketplace.

Good luck everyone. I’m pulling for you.

I have seen a significant drop on prices in my area. Now realtors are price gouging inspectors for as little as $10 …but they get every penny of their commission. Its a joke!
Too much power for the realtors. JMO