MONTREAL - Consider it a New Year’s resolution for Montrealers selling their homes at a time when the words “moderation” and “reasonable” are in vogue.
With the housing market undergoing at least a mild correction in 2013, sellers will need to recognize they can no longer count on low interest rates, or a fierce bidding war to get the full listing price for their homes, the Quebec director of Royal LePage Real Estate Services said Tuesday.
As the housing market softened toward the end of 2012, homeowners have opted to hold instead of lowering their prices, a factor that contributed to weaker sales at the time, director Dominic St-Pierre said.
“The sellers are still really stubborn with their prices,” he said. “They are just not selling if they don’t get the price that they want.
“In the first part of 2013, we expect the sellers will start adapting.”