Home sales sank 41.4 per cent in the month compared to last year, the Toronto Regional Real Estate Board said Wednesday, as 6,474 properties changed hands.
All types of properties across Greater Toronto suffered double-digit sales declines ranging from 30.8 per cent to 44.4 per cent .“Home sales have been impacted by both the affordability challenge presented by mortgage rate hikes and the psychological effect wherein home buyers who can afford higher borrowing costs have put their decision on hold to see where home prices end up,” said Kevin Crigger, TRREB’s president, in a press release.
Tamination m_zadikian That spells opportunity for some!
m_zadikian Even the homes that are reported sold will not close as buyers are well aware of plunging prices. More of price declines expected in coming months as open houses are empty, complete lack of buyers in the market today.
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