The average price of a home in the GTA is slightly higher than this time last year, but fairly flat month-over-month, according to the latest numbers from the Toronto Regional Real Estate Board .
“We’ve definitely seen an improvement in the market, we were basically in a low this time last year as a result of increasing borrowing costs and their impact on the marketplace, said Jason Mercer, the real estate board’s chief market analyst.This suggests, he said, that buyers who “moved to the sidelines” when interest rate hikes started in 2022, may have accepted the higher borrowing costs, saved more for a down payment or are looking at a different type of home.
Seasonally adjusted sales slipped month-over-month 6,353 to while the seasonally adjusted price was up to about $1.164 million compared to $1.146 million in May.
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Source: timescolonist - 🏆 15. / 75 Read more »