GTA housing market showing signs of tightening: Toronto real estate board

April's average price tumbled 7.8 per cent to $1,153,269, but was roughly four per cent higher than the $1,108,499 the average buyer paid in March.

Pushing these buyers to the sidelines were eight consecutive interest rate hikes, which took a bite out of their borrowing power, even as prices started to tumble. "We had 25 offers at offer time and this was for a house that was a fixer upper. It was not even move-in ready, so the demand out there for homes is huge."

"There’s a perception that prices still have further to recover, while others are likely reluctant to become buyers in today’s market environment, given higher mortgage rates, and tight inventory," she said in a statement.Prices still remain down from last year's levels. "I think some of the people who are sitting on the sidelines keep thinking, 'I'm just still waiting for the bottom of the market to happen,' but of course, the bottom of the market seems to have passed them by because things are going back up again," said Morrison.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

GTA housing market showing signs of tightening: Toronto real estate boardToronto's housing market continued to tighten last month as prices edged up four per cent from March and sales moved closer to the level they were at last April, the Toronto Regional Real Estate Board revealed Wednesday.
La source: CP24 - 🏆 30. / 67 Lire la suite »

GTA housing market showing signs of tightening: Toronto real estate boardToronto's housing market continued to tighten last month as prices edged up four per cent from March and sales moved closer to the level they were at last April, the Toronto Regional Real Estate Board revealed Wednesday. April's average price tumbled 7.8 per cent to $1,153,269, but was roughly four per cent higher than the $1,108,499 the average buyer paid in March. Sales for the month hit 7,531, down 5.2 per cent from a year ago but up about nine per cent from March. Those sales outpaced new li
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Business booming for Toronto bars as Maple Leafs advance in playoffsBusiness booming for Toronto bars as Maple Leafs advance in playoffs. “We had record-breaking and the best sales for two weeks in a row since we shut down in the beginning of COVID” said business owner Christopher Murie, who added he also “bleeds blue.”
La source: TorontoStar - 🏆 60. / 55 Lire la suite »