SALES are WAY DOWN in Every Area for MARCH, Recession is Coming, 2023 Canadian Real Estate Market

Housing Stats from across Canada, I take a look at sales, new listings, month over month increases and decreases and overall losses from the Peak in the Canadian Real Estate Market. I also. compare real estate to other asset prices including the DOW Jones, S&P 500, TSX, Bitcoin, and even TESLA.

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[susannicky]

Real estate investors losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.

[ywdq]

Jon, you are amazing! As a realtor, you have so much financial knowledge and make/present beautiful charts. A lot of realtors know nothing about the economy

[LisaParsons-oi]

Great content as always, Jon. Another contributing factor to job increases is that many people have had to take on SECOND and THIRD jobs to make ends meet. This statistical information isn't shared with the general public as it reflects poorly on governments and monetary policy.

[G_Ellis]

Great video Jon! You are the "go to guy" when it comes to the "real" Real Estate picture in Canada.

[thevintagekitty]

I work in finance, and all I can say is "what is right is wrong, and what is wrong is right". The insanity in all the inflated markets has been going on too long. You are right about Hamilton. My brother has a $400K + down payment, makes Six figures income and is currently living with my parents (due to the housing market) has been outbid on 3-4 houses in the last 2 weeks in bidding wars going way over. Insanity, leave your emotions out of financial decisions people!

[mellykick]

Our realtor texted me about a open house. I replied no thanks it’s priced to high for a old rancher. I’m at the point where I’m tired of seeing over priced houses, by 100, 000 atleast! We will wait, sick of over priced homes.

[mariamalshaer]

Hey Jon. I own a very busy restaurant in North bay. The last Quarter is down 30% in sales. We’re here for 11 years. Never seen it like this. The costumers come to the restaurant but they order the minimum from the menu. So sales are down for sure.
Thanks for video

[realestateinvestingtips]

Great video summarizing the current state of the Canadian housing market! It's interesting to see how important pricing is when it comes to selling a house. It's also surprising to see the significant drop in sales and new listings in many Canadian cities. It's good to hear that Regina is the best performing market so far. Thanks for sharing!

[funkybuddha]

Please do a video on Calgary? Even though sales are super low, prices are not going down!! Flippers are willing to wait for now!!

[jimmybaggs]

Good article in the Globe and Mail about private lenders refusing to renew and forcing homeowners to realize substantial losses. That is what gambling will get you.

[cm-cugx]

Thanks Jon. Always look forward to your weekly update. From east coast to west coast, most agents' narratives seem to suggest prices will rise again due to low inventory and stabilized interest rate. Are you still thinking this seasonal increase will be a bull's trap across Canada, or do you believe the bull trap will likely appears in certain cities only? There is a condo preconstruction project in Toronto sold out in a day. It is hard to imagine recession is coming😅

[rahulgospel]

Awesome content 👏 Complete, wholistic view on the market, certainly not the usual mumbo-jumbo about real estate. Love it! Thank you. 👌

[cgardinerphoto]

hi Jon, I really appreciate your breakdowns and analysis of the charts.. there's not enough of this type of analysis and consideration of the macro economics at play in RE!

[kaysingh]

Finally a rational and measured look at the real context of the numbers - great job !

[margaretschwartzentruber]

Excellent comparisons and commentary. You mentioned resilience of Quebec and Montreal market. Could it be so many French language immigrants? Lots of money coming from previous French colonies? I recently met an immigrant from Nigeria which had been a British colony. His family & others had great education, wealth & jobs in Nigeria & have settled in Vancouver to Surrey area. ( side note: We had a fascinating cross country flight. He says NGO's are keeping 1/2 his country in poverty while other half does very well.
He sees Canada as not his long range plan as he feels his kids would be better off back home before they go to high school.)

[tlr-nut]

The economics are out of control. I priced out a loaded Jeep Wrangler at my local dealer here in Ontario.
$128, 000+tax. With 8% financing over 96 months, your paying $200, 000.
For a Jeep Wrangler, not a Ferrari! Nuts!

[randysalerno]

sales are down, listings are down... the market has basically seized up, which explains some bidding wars on the limited inventory. once the impact of the rate increases fully take effect we'll see more inventory but there may not be enough buyers

[rickyou]

Thanks Jon for all the info and data, I'm still waiting for lower home prices hopefully after May picture will be clearer ! 😊

[va]

Hi Jon, new subscriber here, you are rock, in a longer time for sure your honesty hugely will pay you back.
My prediction in regards of macro economic, real estate price in many parts of Canada will be down at least 20% .

[tylerj]

Thanks for the video John never thought I’d see Peterborough/kawarthas on you videos that’s where I’m from and also funny Is Bancroft area is where I’d like to buy my first home would love to see Peterborough on your videos more often