Point2 Homes: Fewer Canadians are searching for homes

by Steve Randall on 26 Mar 2020

Unsurprisingly, there has been a decline in the number of Canadians searching for homes on a leading real estate portal in the past month.

Point2 Homes has seen a 38% decrease in searches on its website on March 23, compared to March 5. This decrease has accelerated since the World Health Organization declared the COVID-19 coronavirus outbreak as a pandemic.

Bloomberg has reported that there were also fewer searches on Google for terms such as “homes for sale” and “houses for sale” in recent weeks.

 

 

 

 

US market slower
The US has also seen a downturn in home listing viewings and searches and two major online services, Zillow and Redfin, have ceased their homebuying operations for now.
Meanwhile, a survey of real estate attorneys in the US has found that 47% have already seen negative effects on their business as result of the virus outbreak with 95% expecting an extended impact over the next six months.

 

Post a Comment

Most Trending News

These urban rental units can boost property values
News

"[...]There’s a lot of push for the city and other government levels to move towards laneway housing to deal with the supply issue and I think that’s a great opportunity.”

Read More
Real estate investing democratized
News

Learn more about how addy’s mission is to enable every human to become a homeowner by helping them invest in real estate at a price that works best for them, and dividing the investment into equal parts.

Read More
Benchmark price of Canadian home up $120,000 in March
News

In March, new listings set a record by reaching 1 million across Canada, a 7.5% increase from the month prior. Bidding wars were commonplace and inventories fell to their lowest in decades.

Read More