According to the inventory report, supply levels in major Canadian housing markets have dwindled for years, citing active listings in July running below the 10-year average across almost all markets surveyed.
Double-digit dips below the 10-year average were recorded in centres like Halifax-Dartmouth and Ottawa , while the GTA supply was only seven per cent below the ten-year July average. It's a reversal of the trend seen in the decade before, with Toronto registering a July 10-year average of 21,243 active listings in the years from 2003 to 2012, versus the 16,458 July average for the decade of 2013-2022.
"Population growth and household formation have played a significant role in depleting inventory levels from coast to coast over the most recent decade, triggering chronic housing shortages in large urban centres that resulted in mini 'boom' and 'bust' cycles."
Fucking good enough goofs driving around in range rovers because grandma bought a modest home in 1960 we need to come back to some sort of normality