An open thread for you to post your anecdotes. Anyone with PCS? What do you see happening?
We're seeing home prices starting to decline a bit. Our PCS only shows houses with suites or suite potential up to $425,000. We've seen perhaps five or six price reductions over the last week from above that number, and often well above that number, coming into our segment: i.e. original asking $449K new price $424,900 etc. The pace of sales is off slightly too.
On the condo side of things we still see dumpy condos in dumpy neighbourhoods asking way too much. No real significant price reductions, but no significant price increases either. The stuff is still selling though, I'm guessing there is roughly 3.0-3.5 months inventory.
Over to your insights. H/T to Roger for the post idea.