Exactly one year after the real estate market peaked, GTA home values have plunged a record 17.9 per cent annually since rising interest rates putThe decline — from an average sale price of $1.33 million last February to $1.10 million last month — is the steepest on record, according to the Toronto Regional Real Estate Board , which tracks back to 1988.real estateThe average selling price of a house or condo was about 5 per cent, or $57,227, higher than January, although it declined 0.
A 47-per-cent annual decline in February sales, accompanied by a 41-per-cent drop in new listings, suggests the market is tightening, he said.picking up. If there’s not the supply there to match it, then we’ll quickly start to see an increase in home prices. That’s certainly what we’re looking at in the second half of this year,” he said.
Only 17.90% drop 😯 Though the drop should be 79.9% to reflect the actual and real value for properties in the GTA 🤔
For context, keep in mind that from Feb 2021 to Feb 2022, the average home price in the GTA increased by 28%.
Shame on Toronto realtors for inflating the market with their greed
So a starter home in Toronto is now only $1.25-million?
I hope half of the GTA have to default on their mortgages and lose everything. Maybe then they will wake up to the epic failure that is their Liberal government. You deserve it folks.
do you also know that if you commit an act of war crimes in our country that everything you own belongs to the canadian government! war crimes include staging a funeral to include a chant that puts all viewers in a trance of negativity and evil while playing with our hearts!
wait till they find out the banks never provided them with full rebates on their mortgages during covid due to a clause that says during war or pandemic isolation that relief will be given by them and they have insurance in the money!
bottom will fall out