As temperatures drop to some of the lowest values Toronto has seen in years, data released Friday suggests that the city's housing market isBoth home sales and prices were down by staggering year-over-year percentages in January of 2023,In January of 2022, the average selling price for a home in the Greater Toronto Area wasThis January? January of 2023? The average GTA home sold for just $1,038,668.16.
"On a year-over-year basis, both sales and prices were down markedly, continuing to highlight the impact of higher borrowing costs on affordability over the last year," readsdown the housing market charts in January of 2023, dropping 44.6 per cent since January 2022 with only 5,594 properties sold in the GTA.the market isn't actually tanking"Home sales and selling prices appear to have found some support in recent months.
"Record population growth and tight labour market conditions will continue to support housing demand moving forward."
But interest rates are higher so it offsets the lower house prices.
Good. Keep it dropping… Even me being a homeowner, I know these houses are NOT worth what people pay for them.
This means nothing
Still not enough
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