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GTA housing market showing signs of tightening: Toronto real estate board

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Toronto's housing market continued to tighten last month as prices edged up four per cent from March and sales moved closer to the level they were at last April, the Toronto Regional Real Estate Board revealed Wednesday.

Sales for the month hit 7,531, down 5.2 per cent from a year ago but up about nine per cent from March.

Their hesitance and those lower prices weighed on sellers too as many held off listing their homes because they won't fetch the big sums or bidding wars their neighbours had in 2021 and early 2022."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 "The issue moving forward will not be the demand for ownership housing, but rather the ability to meet this demand with adequate supply.

Townhouses slid 3.2 per cent to $986,121 over the same time period and condos were down eight per cent to $724,118.

 

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