House prices overvalued by 14 per cent in Canada: CIBC

I agree with Ben Tal from CIBC about the market being overvalued (see here)


Already in some neighborhoods detached has fallen off 5%-10% since February and March (not so bad because it had a huge run up)


Condo Market

(Panorama, BSN, Maple Leaf Square, Luna, 550 Wellington) there is a huge shadow inventory and the Days on Market are creeping up.

Sellers are holding firm on their prices, but they are always the last to know when the market shifts. Buyers searching for are usually the first.


I don't see a crash, because I don't get a sense that there is real fear in the market (Canadians have a lot of equity in their homes and won't walk away) . Just a correction