Buyer's remorse high as real estate market slowdown materializes
BNN: 'A wave of buyer's remorse is taking shape in several heated real estate markets, after housing prices started dropping and the number of sales slowed over the last two months. Realtors and lawyers in Toronto and Vancouver say they have noticed buyers looking at what options they have to get out of a purchase and sellers hoping to ensure one goes through because conditions have shifted dramatically from the previous highs and frenzied pace.
'The country experienced a 25.7 per cent drop in the number of homes sold over the last year and a 3.8 per cent slide in housing prices between March and April, the Canadian Real Estate Association said Monday. The average home price last month totalled $741,517.'