The 30 per cent drop in house gross sales in December followed a 42 per cent lower in November and a forty one per cent drop in October. Research for the actual estate board has found that immigrants, who are arriving in Ontario at report levels, have a greater propensity to purchase a home, though not instantly, said Mercer. However, Vollmer added lawsuits concerning wrongful evictions, property preservation, and quick sale transactions when a lot of houses face foreclosure could cause that complete to rise. The rising frequency of lawsuits coincides with a slew of predictions from real estate experts who count on home prices to continue to lower in 2023.
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