Builders over the past few years had been in a hurry to build houses to address the supply shortage in the resale market, as high borrowing costs discouraged homeowners from selling. But now, inventory of both new and existing homes is finally rising and heating up some competition.
Toll’s customers tend to be more affluent, with more cash on hand than entry-level buyers. That appetite has helped Toll’s demand remain steady compared to sales levels of other builders. Still, orders per community fell by 2% on a yearly basis. Still, the recent decline in mortgage rates could ease the years-long mismatch between supply and demand that has been so
And some sellers have already ventured back into the market as rates have come down. Total housing inventory at the end of June landed at 1.32 million units — a 23.4% increase from a year ago,"We're seeing a slow shift from a seller's market to a buyer's market," NAR chief economist Lawrence Yun said last month.
Ford government deadly closure of safe consumption sites spells disaster for Ontario's overdose epidemic: "Safe supply saves lives - this decision will result in countless unnecessary deaths."
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