Sez a Royal Lepage agent, “To say prices are plummeting or the market is collapsing is so premature – I don’t believe that by any stretch. I think it’s actually a great time to be buying, especially if you’re looking at a single-family property..."

Well, according to the average sale price graph, prices ARE plummeting.  But, it's moot point for many.  Maybe most. Let's look at that "single family property." Graph indicates the average sale price is still around $740,000.  

Sorry, all you first-time buyers, that price makes even a parental in-put on the down payment a breathtaking amount. Monthly mortgage?  Hmm.  And what are rates doing right now?  Hmm, again. 

Sorry, all you wanna-buy-up mortgage-payers, who were counting on a really good return on the dump--er--home you're in now.  It's likely going to be a stretch to move from that 25-yr. old, 1.5 bathroom two-bdroom-and-den 1,300 sq. footer into something newer that makes it worth the hassle and headache. 

A positive? Less debt