Buyers return to Toronto’s housing market

The Toronto market has fared a little better, but Mr. Hogue points out that potential buyers in both Toronto and Vancouver have been reined in by higher interest rates and the mortgage stress test.

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Buyers Return to Toronto’s Housing Market Natalie Wong and Erik Hertzberg , Bloomberg News (Bloomberg) — Toronto’s housing market showed signs of continued stabilization as sales surged amid a decline in benchmark prices.

 · Toronto housing market by the numbers. A catalyst of the heated debate and avid media coverage of housing issues over the past two weeks has been the August housing market data release by the Toronto Real Estate Board (TREB). With new listings down 6.7% year-over-year, resulting in the lowest levels since August 2010, as well as the whopping 34.

The Greater Toronto Area housing market has shifted into buyer’s market territory for the first time in eight years, and frustrated shoppers such as Mr. Williamson are now beginning to return from the sidelines, lured by an average 20-per-cent price drop from April’s market peak.

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Housing Sales slumped 8.5% from one year ago, the lowest sales since 2015. Prices still rose another 2.8% to a median of $247,500 nationwide. The real story was the drop in lower priced homes as depicted in this graphic from NAR. With low mortgage rates, it’s believed sales will once again grow. 60,000 more homes were on the market.

Share this story. Toronto home sales surge 19% as buyers return to market. TORONTO – The Toronto Real Estate Board (TREB) says residential home sales in the Greater Toronto Area climbed 18.6 per cent higher in July compared to the same month a year ago.

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 · The June Market Report speaks volume to increased consumer confidence in Toronto’s real estate market. More buyers are moving from the sidelines after digesting the possibilities of rate hikes, and into the higher density market segments (semi-detached houses, townhouses and.

 · McMansions. The Toronto Real Estate Board also logged a 19 percent decrease in home sales last fall. According to the Times, McMansions in the city’s wealthy enclave, Hoggs Hollow and Bridle Path, where homes are priced on average at $2.6 million, are likely see their home values drop the furthest. [FT] – Erin Hudson.