'A Year of Two Halves': TRREB's 2023 Market Outlook Splits its Real Estate View

According to the report, the second half of the year will see a gradual uptick in home sales in the Greater Toronto Area , along with an increase in competition between buyers, with a renewed upward pressure on home prices. This is good news for sellers, of course, but — in a climate of sky-high interest rates — it only makes things more of a challenge for first-time homebuyers.

“It will be a year of two halves in 2023,” said TRREB Chief Market Analyst Jason Mercer. “The first half will feel similar to the fall of 2022 due to the lingering effects of higher borrowing costs and related economic uncertainty. However, recent polling by Ipsos suggests buying intentions are edging up.

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Here’s how interest rates could affect Canada’s housing market in 2023 - National | Globalnews.caThe Canadian housing market is primed for a rebound in late 2023 — assuming market watchers' expectations for interest rate cuts come to fruition, according to a Desjardins report.
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