"Right now, the market is showing a lot of promise, with a spring thaw and increased confidence. But it may not be smooth sailing from here."Understanding the volatility of the Ontario real estate market means wrapping our heads around the many contributing factors impacting supply, demand, and, frankly, the opportunity to afford it all.
But there are other factors that could easily pull things back down again – continued high interest rates, surging population, and housing shortages remain factors, not to mention changing policies like Toronto’s March 2021 was one of the hottest months on record for home sales, with about 16,000 properties sold in the GTA. In 2022, that number plummeted to about 11,000, and in 2023, dropped even further to about 7,000. If the trends tell us anything, we should be looking at about 8,000 sales for March 2024. So, while the market isn’t exactly “on fire” like it’s been in the past, it’s definitely warming up.incentive program terminates at the end of this month.
______________________________________________________________________________________________________________________________Ontario Liberals Push For Fourplexes Province-Wide In Proposed Housing Bill
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