News Formal

Greater Toronto Home Sales Fall Slightly in December as 2024 Ends with Buyer's Market

  • 📰 CTVToronto
  • ⏱ Reading Time:
  • 34 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 84%

REAL ESTATE 뉴스

HOMESALES,TORONTO,REALESTATE

Greater Toronto Area home sales saw a slight decline in December 2024, marking the end of a year where buyers benefited from strong negotiating power. The Toronto Regional Real Estate Board reported 3,359 home sales, down 1.8% from the previous year. The average selling price also dipped 1.6% to $1,067,186. 2024 proved to be a 'transitionary' year with sales up 2.6% but new listings surging 16.4%, giving buyers ample choice and preventing widespread price growth. High interest rates continued to pose affordability challenges, but the Bank of Canada's rate cuts in the second half of the year provided some relief.

Real estate sale signage is shown on a street in Oakville, Ont., west of Toronto, on November 7, 2024. THE CANADIAN PRESS/Richard BuchanTORONTO — Greater Toronto home sales fell slightly last month to cap a year that saw buyers take advantage of “substantial negotiating power” on price.

It says this gave buyers “considerable choice” in the marketplace and effectively prevented widespread price growth. The average selling price for all home types combined was $1,117,600 in 2024, a decline of less than one per cent compared with 2023. At least 1.2 million Canadians are facing a mortgage renewal in 2025, and 85 per cent of those existing home loans were contracted when the Bank of Canada’s interest rate was at or below one per cent. Here's how some homeowners are planning to navigate the increased payments.

'China is the problem': Ford says now is not the time for U.S. to 'disrupt' trade with higher tariffs

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 9. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Toronto Housing Market Sees Uptick in 2024 SalesDespite a slow start in 2024, the Toronto housing market experienced an increase in sales towards the end of the year, driven by falling mortgage rates and new government borrowing policies.
출처: globeandmail - 🏆 5. / 92 더 많은 것을 읽으십시오 »