The latest data from the Toronto Region Real Estate Board shows that the average resale price across all property types was $1,079, 398 in November, compared toHome prices in Toronto have now fallen by an average of 5.5 per cent compared to November 2021, however TRREB points out that the declines have been more pronounced in the “more expensive market segments,” such as detached and semi-detached homes .
In a news release, TREEB President Kevin Crigger said that while increased borrowing costs represent a “a short-term shock to the housing market,” he still anticipates that the demand for housing will “pick up strongly” over the medium and long term, largely due to increased immigration. The Bank of Canada has now increased its key lending rate six consecutive times, lifting it from a historic low to its highest point since 2008.
The latest data from TRREB does show that new listings were down 11.6 per cent from November, 2021, providing some support to prices.That is after a similar 49 per cent decrease in transactions in October.
And it's scoop? You, journalists l, are so obedient without questioning yourself wheb your are posting a big news! 10k$ what is it on a 1.2 millions $ average house in Toronto! It's less then 1% and you make a fuss about that? What's wrong with you guys ?
A dump in Toronto and the big major suburbs is 1.2-1.3 million lol. With the cost of living - most can barely put down 20% which is $200,000 and hopefully qualify to carry $800,000 lol.
Wow not a whole 10k? This can’t be true that’s such a dramatic drop
$10,000 dollars ☹️. 60% more to go.
Its a month over month drop from October, which isn’t small, if you bigots cared to read the article
from 1.2 million to 1.18 million... what a deal!
My ex bought a new condominium and hard for him to pay child support and he is a cop 👮
Best to rent with a roommate lol if you're single
😂 $10k?… seriously that’s 1% of actual cost…. Nothing to worry here…
$10k doesn’t even pay land transfer taxes
Oh wow 10k…
That is pennies, have you seen what it cost to buy a home in Toronto
People still get screwed.... Is either high prices on the home or high interest rates.
Is there a zero missing in your tweet? Think you meant $100K
The eqivilant of $100 but on sale for $99.99.
Finally affordable housing
Yes, from 1.2 mil to 1.1 mil 😂😂
Top story is dropped price 200k to 300k
That’s like milk going down 2 cents
Lol that’s all
Hot tip, prices are down by 40-50% off the peak outside of gta. They can fall by that much inside the gta too. If you are waiting for a bounce to sell…….
Ain't enough. Gotta go down much more
Oh no 10k down from 1mil+ oh no
More like $100K plus
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