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
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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.
Read more »