Share this Story: TRREB: GTA Real Estate Market Starts the New Year the Same as it Ended Last Year [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: TORONTO, Feb. 03, 2023 (GLOBE NEWSWIRE) — As we moved from 2022 into 2023, the Greater Toronto Area (GTA) housing market unfolded as expected. The number of January sales and the overall average selling price were similar to December 2022. On a year-over-year basis, both sales and prices were down markedly, continuing to highlight the impact of higher borrowing costs on affordability over the last year. “Home sales and selling prices appear to have found some support in recent months. This coupled with the Bank of Canada announcement that interest rate hikes are likely on hold for the foreseeable future will prompt some buyers to move off the sidelines in the coming months. Record population growth and tight labour market conditions will continue to support housing demand moving forward,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron. Create an account or sign in to continue with your reading experience. Don't have an account? Cre
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