Over all, home sales in Canada plunged 15.1% in September from a year earlier.
BMO economist Robert Kavcic tracked 23 markets, using three-month averages compared to a year earlier, rather than just comparing September 2012 to September 2011. Of those 23, he found, 13 are experienced “balanced conditions,”.
Currently, Kitchener Waterloo has a balanced market. However, with sales generally falling relative to new listings, the number of “buyers’ markets” could be on the rise in the months ahead.