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Why Toronto and Vancouver real estate is slowing but prices aren’t falling

Fewer homes are being sold in the Greater Toronto Area (GTA) and Vancouver areas compared to previous months, but prices still haven’t come down as a result.

A few things have to happen before prices start to fall, which are up 30 per cent or more in some areas.

We’ve been getting monthly updates from the ground floor from Realosophy Realty’s John Pasalis and Oakwyn Realty’s Steve Saretsky, who help make sense of it all, with advice for anyone buying or selling a home.

Also See: The latest real estate news for housing prices, mortgage rates, markets, luxury properties and more at Yahoo Finance Canada.

They explained how home prices work and shared their thoughts on where they see markets going

If you have questions, email them to jessybains@yahoofinance.com and John or Steve will answer them on the next episode.

Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.

Download the Yahoo Finance app, available for Apple and Android.