Canadian realtors were looking forward to a strong spring selling season. Forecasts for sales this spring were upbeat, thanks to lower mortgage rates. Realtors were anticipating that this would be one of their best-selling seasons yet. Then came the COVID-19 virus, falling oil prices, an economic slowdown and job security concerns, and those hopes quickly faded. In reaction to the quickly spreading virus and economic issues several open houses have been canceled and even some one on one showing have failed to take place. Several sellers have gone so far as to ask to be released from their pre-sale contract.
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Canada set for muted spring home-selling season as coronavirus saps sentiment