Toronto home prices jump nearly 28% in February, but whisper of balance in market emerges

Home prices across the greater Toronto area surged nearly 28 per cent in February from a year earlier, although a slower decline in listings than in sales indicated a “modest move to a slightly more balanced market,” the Toronto Regional Real Estate Board said on Thursday.

Higher borrowing costs will have a “moderating effect” on home sales this year, with price growth easingin the second half of this year, although substantial immigration and a continued supply shortage are likely to have a countering effect, TRREB said.

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