'A sharp rebalancing of demand-supply conditions:' RBC says GTA housing market lost steam in June

📆 10/07/2023 1:59 p. m.
📰 CP24

⏱ Reading Time:
16 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 67%

Colombia Noticias Noticias

Colombia Últimas Noticias,Colombia Titulares

There was a “sharp rebalancing of demand-supply conditions” in Toronto’s real estate market last month as the Bank of Canada’s recent decision to resume its rate hiking cycle pushed some buyers to the sidelines, a new report from RBC suggests.

, released last week, notes that home sales fell 6.9 per cent in Toronto in June after soaring by 32 per cent in April and May when the Bank of Canada was keeping its key overnight lending rate on hold.

RBC said in the report that it believes the surge in Toronto home values which pushed benchmark prices up 8.9 per cent since the market reached a “cyclical bottom” in February can’t continue. The bank does concede that “the growing supply hasn’t done much to ease upward price pressure” so far.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

Escribir Comentario

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Nine Canadian stocks among RBC’s top picks in global miningDaily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
Fuente: globeandmail - 🏆 5. / 92 Leer más »