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

📆 10.07.2023 20:59:00
📰 CP24

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

Deutschland Nachrichten Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

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.

Schreibe Kommentar

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

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
Herkunft: globeandmail - 🏆 5. / 92 Weiterlesen »