Home prices have increased by far more than average incomes over the past decade in Toronto. Graphic via homing.ca.
According to Rowlands, sales were so soft in 2022 that they broke a 15-year-old record with only 75,140 sales reported through TRREB's MLS System. We haven't seen this few sales in December for all home types since 2008 when there were 1093 sales." "Unfortunately, the furthest I can go back using the TREB data is 1996, and even going back that far there hasn't been a December with fewer [detached] sales," writes the realtor, noting that condos also last experienced this few sales in 2008.
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