Housing shifting from seller’s market

Canadian real estate has shifted back to a “balanced” market, if not one that is “leaning slightly in favour of buyers,” BMO Nesbitt Burns said today. From the end of last year through to May of this year, economist Robert Kavcic said, resales have slipped 16.8 per cent while new listings are 6.9 per cent, taking some of the steam out of pricing pressures. “Given that a good deal of pent-up demand has been spent, look for the market to remain relatively loose through the rest of 2010,” Mr. Kavcic said.