“Many buyers have come to terms with higher borrowing costs and are taking advantage of lower selling prices compared to this time last year,” said TRREB president Paul Baron in a press release accompanying the data. “The issue moving forward will not be the demand for ownership housing, but rather the ability to meet this demand with adequate supply.”
Baron added that this supply issue requires a policy response from all levels of government, one that many market watchers argue has been left unaddressed even as the federal government plans toLauren Haw, chief executive of Toronto-based online real estate listings firm Zoocasa, told Financial Post’s Larysa Harapyn that the federal government’s
supply gap. She added that despite the housing downturn that had Toronto posting double-digit declines from its pandemic highs, she anticipated in early April that more homebuyers would return to the market.Article content “I think see some investor sellers coming into market because they have to,” Haw said during an April 8 interview. “Those things — increasing supply combined with these decreasing
— I think we’re going to see a lot of buyers come off the sidelines that feeling of confidence in the market. So, I do predict a pretty busy spring market.”