Point2 Homes: Fewer Canadians are searching for homes


Thursday, March 26th, 2020

There has been a decline in the number of Canadians searching for homes

Steve Randall
Canadian Real Estate Wealth

Unsurprisingly, there has been a decline in the number of Canadians searching for homes on a leading real estate portal in the past month.

Point2 Homes has seen a 38% decrease in searches on its website on March 23, compared to March 5. This decrease has accelerated since the World Health Organization declared the COVID-19 coronavirus outbreak as a pandemic.

Bloomberg has reported that there were also fewer searches on Google for terms such as “homes for sale” and “houses for sale” in recent weeks.

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Depending on where you are in the home buying process, here are some helpful tips to help you continue searching for a home while also protecting yourself and others: Read News Tips
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US market slower The US has also seen a downturn in home listing viewings and searches and two major online services, Zillow and Redfin, have ceased their homebuying operations for now. Meanwhile, a survey of real estate attorneys in the US has found that 47% have already seen negative effects on their business as result of the virus outbreak with 95% expecting an extended impact over the next six months.

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