(Lance McMillan/Toronto Star via Getty Images)Īt the beginning of 2023, inventory was up 65.5%, compared with 2022. In response, sellers started pulling their listings.Ī For Sale sign is displayed outside a home in Toronto on March 13, 2023. There were 'significant inventory gains' last year as demand waned, according to the report. Historically, there have been fewer sellers on the market, compared to an average week throughout the year.įIRST-TIME HOMEBUYERS BATTLING RAPID DECLINE IN AFFORDABILITY: NUMBERS 'JUST NOT WORKING' Homes aren't expected to move off the market as swiftly as they did last year, but they will be sold at a faster pace than what has been seen in prior years.

In 2022, homes were getting scooped up after only 32 days on the market, which was 13 days faster than the year prior. In fact, homes that were for sale during that week flew off the market 18% more quickly, compared to the average week, according to. With such high demand, homes tend to sell sooner. HOUSING AFFORDABILITY AT RECORD LOW, REPORT SAYS In 2022, it had 32.5% more views per listing than the average week, according to. In years past, there have been 16.4% more views per listing during this span of time, compared to the typical week during the year.

This week also has seen greater interest from buyers. With high list prices, sellers can potentially earn an extra $48,000 or more for their homes if they sell during this seven-day stretch than if they were to sell at the beginning of the year, according to. (Lance McMillan/Toronto Star via Getty Images) FILE-A For Sale sign is displayed outside a property in Toronto on March 13, 2023.

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