The Toronto Regional Real Estate Board’s chief market analyst says homebuyers in the Greater Toronto Area , particularly those interested in purchasing a condo, can enter the market from a position of strength during the first half of this year.
“First-time buyers who are starting to move off the sidelines are going to take advantage of that sort of positive double whammy of downward trending borrowing costs and negotiating power in terms of their purchase.”. The board said overall home sales in the Toronto area last year were up 2.6 per cent, while new listing rose 16.4 per cent.
“Our polling suggests that there’s buyers out there that have every intention of purchasing a home in 2025, but they need to see maybe another 100 or 150 basis points in cuts before pulling the trigger.”