The simple answer is "NO!" Many variables account for the current Real Estate market changes. The bottom line: the Real Estate market is highly affected by the principle of supply and demand. From October 2016 - March 2017 it was A Sellers' Market. This means there was a substantial increase of Bidding Wars which lead to desperate actions by buyers (waiving conditions, higher prices). The end result is Buyer Fatigue and uncertainty in the market.

A new provincial "Fair Housing Plan" introducing 16 new provisions to help "stabilize" the Real Estate market were designed to protect sellers from "foreign buyers" (5% of total sales in the Golden Horseshoe Area). The effect: a significant reduction in buyers and prices because of a changed mindset; "look and see".

The market had shifted. New residential listings entered on TREB's MLS System was 19,614, up 15.9% when compared to June 2016. This is down from May 2017 which showed an increase of 48.9% when compared to May 2016. Traditionally, the start of May initiates a strong "Buyers' Market", however, this May it was a sluggish market. Greater Toronto Area reported 7,974 sales in June that is down by 37.3% in comparison to June 2016. Skeptical buyers resulted in even lower prices and missed opportunities. It is important to realize the market is correcting itself.

Buyers and Sellers who were involved in sale transactions prior to the new provisions face challenges in "closing". "Appraisals" are coming in low. If you bought then with a large deposit, you need extra funds to close. If you want to buy, you need to sell first. The biggest hurdle for Sellers is knowing the "Net Price" of their property before they can consider buying.

Are you looking to buy in this market? What challenges do you have to face in the negotiating process? As a seasoned agent with strong negotiation skills and keen knowledge of the GTA, I would be happy to help you discover your real estate investment options.