'In the next half of the year, buyers are in a rare position to negotiate prices and deal terms. Some homes will still command multiple offers, but they will be fewer in number,' a new report states
Trends like multigenerational living, buying second homes and moving to more rural areas may remain popular in the Canadian luxury real estate market for the long haul, according to Engel & Völkers 2021 Mid-Year Canadian Luxury Real Estate Market Report
Greater Toronto Area, Hamilton and Montréal are markets of particular concern