Toronto's housing market is facing its deepest decline in 50 years

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Toronto's housing market is facing its deepest decline in 50 years Toronto TorontoRealEstate RealEstate

have fallen to its slowest pace in 13 years, if we exclude the April 2020 lockdown.

Activity has dramatically quieted, as higher interest rates are taking a huge toll on the market. Inventories, however, have been steadily climbing, up 58 per cent since 2021.has dropped $178,000, falling to $1.16 million. In July alone, prices declined almost 4 per cent, or $47,000.Hogue said Canada's least affordable markets, including Toronto and Vancouver, are most at risk in light of their"excessively stretched affordability.

The RBC expert expects that home buyers in the GTA will find better deals in the outskirts of Toronto, even though condos prices are to remain more resilient.

 

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Umm. Prices jacked up way too fast. So not sure what u are getting at with this headline

Far from that bleak as the headline implied. The drawdown is after a ramp up in price we haven’t never seen sbefore

After doubling in less than 2 years….

Preceded by the biggest increase in 50 years

Dumb money

We all know what happens once this declines!!

Bring it!

Let’s gooooo

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