Pasalis: Pullback in housing market won’t happen for at least another year

A great interview between BNN Bloomberg’s Greg Bonnell and John Pasalis, President of Realosophy Realty, on if a pullback in the market will lead to lower average home prices this year in Toronto.

Pasalis notes, “The market is so tight right now that we are unlikely to see any change until next year at the earliest. Even then, it is unknown what will trigger that change and the implications of that pullback.”

In regards to ‘solving’ the supply chain problems of building more condos and less single-family homes, Pasalis says the government and municipalities need to look at how to accelerate the building of family-sized properties as many homebuyers are seeking these types of homes but are currently in short supply.

Check out the video here:

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