Here's 2 great articles recently posted by R.E.M. (Real Estate Magazine) that appear to illustrate we are heading for a further market decline:
Danny Kucharsky's Oct. 31 post The State the Condo Market: GTA and Vancouver may be about condos but rest assured this will affect detached & townhome markets too. Kind of like the pebble in the pond & the ripple effect. Read on... https://realestatemagazine.ca/state-of-the-condo-market-gta-and-vancouver/
He also writes about the Power of Sale in his Oct. 26 post. Although this speaks about mostly private lenders, I think this is an indication of what's to come with conventional lenders and foreclosures. https://realestatemagazine.ca/power-of-sales-avoid-trouble-navigating-the-surge-with-tips-tricks-and-expert-advice/
There is no doubt that the increase in interest rates & rising inflation is having a huge impact on affordability with no relief in sight for the near future!!