In July, home prices in the Greater Toronto Area (GTA) fell nearly 5% from June due to an increase in new listings and fewer buyers, combined with the typically slow summer market.
It comes at a time when the Bank of Canada’s key rate drop has led to confusion for homeowners over mortgage rates.
The Bank of Canada’s recent rate cut could spark a housing market rebound in Toronto, where May home sales fell 21.7% year-over-year.
Canada's residential mortgage debt hit $2.16 trillion in February 2024, with the slowest growth in 23 years at 3.4%, due to high mortgage costs and interest rate uncertainty.
Toronto's rental construction surged to its highest since the 1990s due to population growth and economic factors but is now slumping due to rising costs and regulatory challenges
New homes in Canada must be available, affordable, and accessible to meet the diverse needs of all Canadians, including the growing number of people with disabilities.
8300 Woodbine Ave #405
Markham, ON
L3R 9Y7
CONDOX DOES NOT REPRESENT THE BUILDER/DEVELOPER. ALL RENDERINGS, INCENTIVES, PRICING ARE SUBJECT TO TERMS & CONDITIONS AND MAY CHANGE AT ANYTIME WITHOUT NOTICE.
CondoX @ 2024