Toronto home sales fall 41% as borrowing costs weigh

“Home sales have been impacted by both the affordability challenge presented by mortgage rate hikes and the psychological effect wherein homebuyers who can afford higher borrowing costs have put their decision on hold to see where home prices end up,” Kevin Crigger, the board’s president, said in a release.Advertisement 3Crigger’s prediction comes as several of the country’s biggest housing markets — Vancouver, Toronto and Calgary — have eased in recent months.

Though homes sold for less on average in June than those that changed hands in May, prices were still up from last year.Article content

financialpost How about any effect from Chinese nationals exiting Toronto before our Third World finance minister nationalizes their assets? cafreeland Taiwan

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