Toronto's housing market showing signs of tightening: TRREB

Sales for the month hit 7,531, down 5.2 per cent from a year ago but up about nine per cent from March.From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.

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. Their hesitance and those lower prices weighed on sellers too as many held off listing their homes because they won’t fetch the big sums or bidding wars their neighbours had in 2021 and early 2022.“Many buyers have come to terms with higher borrowing costs and are taking advantage of lower selling prices compared to this time last year,” said TRREB president Paul Baron in a statement.

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