Toronto Real Estate Market Update - December 2022
Posted on Dec 08, 2022 in Market Update
Homeownership market activity in November continued to be influenced by the impact of higher borrowing costs on affordability. Sales were down markedly compared to the same period last year, following the trend that unfolded since the commencement of interest rate hikes in the spring. New listings were also down substantially from last year, and at...
Toronto Real Estate Market Update - October 2022
Posted on Oct 05, 2022 in Market Update
The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs in September 2022.
"We must ensure that the temporary dip in housing demand is not allowed to mask the critical shortage of homes available for sale in the GTA. Candidates running in the upcoming Ontario municipal elections must ensure home buyers and re...
Toronto Real Estate Market Update - September 2022
Posted on Sep 06, 2022 in Market Update
Sales represented a higher share of new listings compared to the previous three months. If this trend continues, it could indicate some support for selling prices in the months ahead.
"While higher borrowing costs have impacted home purchase decisions, existing homeowners nearing mortgage renewal are also facing higher costs. There is room for the f...
Toronto Real Estate Market Update - August 2022
Posted on Aug 10, 2022 in Market Update
Market conditions remained much more balanced in July 2022 compared to a year earlier. As buyers continued to benefit from more choice, the annual rate of price growth has moderated. Less expensive home types, including condo apartments, experienced stronger rates of price growth as more buyers turned to these segments to help mitigate the impact o...
Toronto Real Estate Market Update - July 2022
Posted on Jul 07, 2022 in Market Update
Higher borrowing costs continued to impact home sales in June 2022.
The average selling price remained above last year's level, but continued to trend lower on a monthly basis. The MLS® Home Price Index Composite benchmark was up by 17.9 per cent year-over-year, but also experienced a month-over-month dip compared to May. Annual price growth was dri...
Toronto Real Estate Market Update - June 2022
Posted on Jun 09, 2022 in Market Update
Housing market conditions continued to evolve in response to higher borrowing costs. Similar to April results, May sales were down on a monthly and annual basis. Conversely, active listings in May were up on a month-over-month and year-over-year basis. More balanced market conditions have provided buyers with more negotiating power. As a result, wh...