{"id":839,"date":"2021-05-17T01:02:00","date_gmt":"2021-05-17T01:02:00","guid":{"rendered":"https:\/\/www.realestateleads.ca\/blog\/?p=839"},"modified":"2023-09-26T01:37:43","modified_gmt":"2023-09-26T01:37:43","slug":"market-cooldown-in-april-across-the-country","status":"publish","type":"post","link":"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/","title":{"rendered":"Market Cooldown in April Across the Country"},"content":{"rendered":"
<\/div>\r\n
\r\n
\"\"<\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n

You\u2019re going to struggle to find any industry expert who doesn\u2019t agree that Canada\u2019s housing market is overheated right now, and perhaps that\u2019s even an understatement. Even cities and towns that have never seen a homebuyer frenzy in their entire existence are seeing one now, and obviously to say that makes for a seller\u2019s market in an emphatic way is also an understatement. That has its positives and negatives, and it\u2019s not always entirely a plus for realtors either.<\/p>\r\n\r\n\r\n\r\n

That\u2019s because it becomes increasingly common for realtors representing buyers to have their client\u2019s very fair offer for a home be beaten by others, time and time again. This is happening routinely in desirable metro cities, but again it\u2019s also a phenomenon that\u2019s spreading out to smaller-town Canada too. If you\u2019re the listing realtor you may be guaranteed of sitting pretty, but if you\u2019re trying to put you clients in a new home as buyers then it may be increasingly difficult to earn your commissions the way you used to in that capacity.<\/p>\r\n\r\n\r\n\r\n

It\u2019s for this reason \u2013 and many others \u2013 that our online lead generation system for real estate agents here at Real Estate Leads is such a beneficial resource for realtors who really need to get more out of the client prospecting efforts. It puts you directly in touch with would-be clients, and does that before other realtors have the same opportunity. We\u2019ll stay on topic here, but it is absolutely 100% effective for this aim.<\/p>\r\n\r\n\r\n\r\n

Many of these same industry experts have said that a temporary \u2018cooldown\u2019 of the market would be a good thing in the big picture. And it seems that is exactly what has happened now as indicated by the numbers recently put out by the CREA (Canadian Rea Estate Association) for last month, April of 2021<\/p>\r\n\r\n\r\n\r\n

Dip from Massive March<\/strong><\/h3>\r\n\r\n\r\n\r\n

The average selling price for a home in Canada is up by nearly half from the lows it hit in the early days of the pandemic. That\u2019s great, but the number of homes sold in April dipped down 12.5% compared to March – the busiest month ever for Realtors in Canada statistically!<\/p>\r\n\r\n\r\n\r\n

Further, overall sales were down in nearly all markets across the country, including just about everywhere in Ontario and British Columbia. (85% of the country as a whole). The hope for many is that this is something of an invisible hand that\u2019s stabilizing and normalizing the market and maybe keeping it from being overheated to the point that it\u2019s about to burst into flames.<\/p>\r\n\r\n\r\n\r\n

What\u2019s behind it all of course is the COVID-19 pandemic pushing interest rates to record lows and then many buyers also feeling that it\u2019s now or never if they\u2019re ever going to buy a home.<\/p>\r\n\r\n\r\n\r\n

No Normal with Seasonal Patterns<\/strong><\/h3>\r\n\r\n\r\n\r\n

We can also now safely say that COVID-19 has taken the usual seasonal patterns of Canadian real estate and thrown them right out the window. What\u2019s standard is for the housing market to start off the year slowly before heating up as the weather gets warmer. Then sales tend to slow down at the end of summer \/ start of school year and continue to go down all through the remainder of the year.<\/p>\r\n\r\n\r\n\r\n

No this year, and not even close. COVID-19 shutdowns in the early days of the pandemic caused sales to completely flop in March and April of 2020, but they then exploded once May brought something of a reopening.<\/p>\r\n\r\n\r\n\r\n

Sales should also usually be higher in April compared to March, but as we mentioned March 2021 was the busiest month for real estate on record. So April’s slowdown could be one of two things; a pause in the continuing upward or momentum or a more lasting cooldown.<\/p>\r\n\r\n\r\n\r\n

What we do know is that sales are expected to trend lower in the second half of this years as rising interest rates and stricter stress test regulations begin to be introduced or more firmly in place. Some believe more simply that sales are way down because so many would-be homeowners have scrapped that plan given the financially daunting realities a lot of them would face.<\/p>\r\n\r\n\r\n\r\n

Big Price Gains<\/strong><\/h3>\r\n\r\n\r\n\r\n

The one thing that will look good no matter what to homeowners with a house on the market is that enormous price gains continue to be the norm for homes sold in Canada. The average price of a Canadian home that sold in April was $696,000, and that\u2019s up 41.9% from 2020.<\/p>\r\n\r\n\r\n\r\n

And if you\u2019re inclined to say that the House Price Index is a better indicator for median pricings, we can say the same thing there as even the HPI rose by 23%. That jump is the highest since 2005.<\/p>\r\n\r\n\r\n\r\n

Reality is that demand is extremely strong and the market is still extremely strong and resilient and so it\u2019s unlikely we\u2019ve seen peak momentum, even if it might temporarily look that way right now.<\/p>\r\n\r\n\r\n\r\n

__<\/p>\r\n\r\n\r\n\r\n

Sign up for Real Estate Leads here<\/a> and receive a monthly quota of qualified, online generated buyer and \/ or seller leads<\/a> that are delivered to one realtor only \u2013 you! We will provide these leads to you exclusively and they will be for individuals in your area who have indicated a genuine interest in making a move in the real estate market and will be looking for a real estate professional like you to guide them through the process. It\u2019s a great way to add to your client base and build your real estate business.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

You\u2019re going to struggle to find any industry expert who doesn\u2019t agree that Canada\u2019s housing market is overheated right now, and perhaps that\u2019s even an understatement. Even cities and towns that have never seen a homebuyer frenzy in their entire existence are seeing one now, and obviously to say that makes for a seller\u2019s market […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-839","post","type-post","status-publish","format-standard","hentry","category-general-topics"],"yoast_head":"\nMarket Cooldown in April Across the Country - Real Estate Leads Blog<\/title>\n<meta name=\"description\" content=\"Market Cooldown in April Across the Country - Real Estate Leads Blog\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Cooldown in April Across the Country - Real Estate Leads Blog\" \/>\n<meta property=\"og:description\" content=\"Market Cooldown in April Across the Country - Real Estate Leads Blog\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/\" \/>\n<meta property=\"og:site_name\" content=\"Real Estate Leads Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-17T01:02:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-26T01:37:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2017\/07\/AdobeStock_45225834.jpg\" \/>\n<meta name=\"author\" content=\"Real Estate Leads\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Real Estate Leads\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/\",\"url\":\"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/\",\"name\":\"Market Cooldown in April Across the Country - Real Estate Leads Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2017\/07\/AdobeStock_45225834.jpg\",\"datePublished\":\"2021-05-17T01:02:00+00:00\",\"dateModified\":\"2023-09-26T01:37:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/413386b258baa1b3e7d5709228082e86\"},\"description\":\"Market Cooldown in April Across the Country - Real Estate Leads Blog\",\"breadcrumb\":{\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/#primaryimage\",\"url\":\"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2017\/07\/AdobeStock_45225834.jpg\",\"contentUrl\":\"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2017\/07\/AdobeStock_45225834.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.realestateleads.ca\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Market Cooldown in April Across the Country\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/#website\",\"url\":\"https:\/\/www.realestateleads.ca\/blog\/\",\"name\":\"Real Estate Leads Blog\",\"description\":\"Welcome to RealtorLeads Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.realestateleads.ca\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/413386b258baa1b3e7d5709228082e86\",\"name\":\"Real Estate Leads\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4801655c68dae8c9486a6bdf5e4c6505?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/4801655c68dae8c9486a6bdf5e4c6505?s=96&d=mm&r=g\",\"caption\":\"Real Estate Leads\"},\"url\":\"https:\/\/www.realestateleads.ca\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Market Cooldown in April Across the Country - Real Estate Leads Blog","description":"Market Cooldown in April Across the Country - Real Estate Leads Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/","og_locale":"en_US","og_type":"article","og_title":"Market Cooldown in April Across the Country - Real Estate Leads Blog","og_description":"Market Cooldown in April Across the Country - Real Estate Leads Blog","og_url":"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/","og_site_name":"Real Estate Leads Blog","article_published_time":"2021-05-17T01:02:00+00:00","article_modified_time":"2023-09-26T01:37:43+00:00","og_image":[{"url":"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2017\/07\/AdobeStock_45225834.jpg"}],"author":"Real Estate Leads","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Real Estate Leads","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/","url":"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/","name":"Market Cooldown in April Across the Country - Real Estate Leads Blog","isPartOf":{"@id":"https:\/\/www.realestateleads.ca\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/#primaryimage"},"image":{"@id":"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/#primaryimage"},"thumbnailUrl":"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2017\/07\/AdobeStock_45225834.jpg","datePublished":"2021-05-17T01:02:00+00:00","dateModified":"2023-09-26T01:37:43+00:00","author":{"@id":"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/413386b258baa1b3e7d5709228082e86"},"description":"Market Cooldown in April Across the Country - Real Estate Leads Blog","breadcrumb":{"@id":"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/#primaryimage","url":"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2017\/07\/AdobeStock_45225834.jpg","contentUrl":"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2017\/07\/AdobeStock_45225834.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.realestateleads.ca\/blog\/market-cooldown-in-april-across-the-country\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.realestateleads.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Market Cooldown in April Across the Country"}]},{"@type":"WebSite","@id":"https:\/\/www.realestateleads.ca\/blog\/#website","url":"https:\/\/www.realestateleads.ca\/blog\/","name":"Real Estate Leads Blog","description":"Welcome to RealtorLeads Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.realestateleads.ca\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/413386b258baa1b3e7d5709228082e86","name":"Real Estate Leads","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/4801655c68dae8c9486a6bdf5e4c6505?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/4801655c68dae8c9486a6bdf5e4c6505?s=96&d=mm&r=g","caption":"Real Estate Leads"},"url":"https:\/\/www.realestateleads.ca\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/posts\/839"}],"collection":[{"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/comments?post=839"}],"version-history":[{"count":0,"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/posts\/839\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/media?parent=839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/categories?post=839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/tags?post=839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}