Recovery underway in key Canadian markets ends buyer dominance in resale housing, says RE/MAX Pent-up demand for residential housing has bolstered sales in Canada’s major markets—a clear signal that the housing sector has shifted into recovery mode, according to a report issued by RE/MAX. More balanced market conditions have emerged, effectively ending the stronghold that buyers had on the market over the past six to eight months.

After almost 7 years of seller’s market its now the buyer’s turn to get a great deal. Two major factors:

1. Fear: Most people listing[or wanting to list] their homes are panicking that worse is yet to come and there by they will be “stuck” with their home and will not get a “good” price.
2. Unemployment rate: At 6.6%, many home owners who lost jobs and did not cushion for rough times want to sell and move on.