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Some realtors and newcomers to P.E.I. say the federal government's move to ban most non-Canadians from buying homes could hurt immigrant retention on the Island.
Industry members say slower sales are unsurprising in the fall and winter months.
Canadian housing prices are expected to drop by the end of next year, with some of the largest decreases forecast on P.E.I., according to Canadian financial services company Desjardins.
There are signs P.E.I.'s hot housing market is starting to cool off this summer, as mortgage rates continue to rise.
James Marjerrison, president of the P.E.I. Real Estate Association, discusses the latest market trends with CBC News: Compass host Louise Martin.