It's most likely picking up now due to the historic low 2.99 rate from BMO and a few other banks that were opened up in Jan. Since those have been pulled now (before they were supposed to) it will be interesting to see what happens in the next few months without those enticing buyers. Mark Carney is likely to put more drags on the market (removing 30 year terms) to slow things down further.
I know condos in my area have listings sitting on the market 6+ months with no interest (according to our realtor). Our condo also sat for months until recently finally getting an offer on it.
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