Skip to main content

Market Recovery Remains Gradual in September

The 12-month rolling sales total shows that the recovery in sales activity has been gradual. At 79,302 homes, the annual rate of sales has increased by only 2.4% since reaching its bottom in May 2018. Activity remained 31% below its peak of 115, 620 sales in April 2017 and also 12%below the 10-year average rate of 90,564 sales. In fact, the last time annual sales were below 80,000 homes was during the economic recession period in 2009. Against the backdrop of a strong local economy and fast-growing population, pent-up demand for housing purchases is accumulating in the GTA as the market rebalances following the excessive growth last year and new mortgage rules this year.


Comments

Post a Comment

Popular posts from this blog

GTA REALTORS Release March 2025 Stats

Homeownership in the Greater Toronto Area (GTA) became more affordable in March 2025 compared to the previous year. On average, both borrowing costs and home prices have declined over the past year, making monthly payments more manageable for households looking to buy a home. “Homeownership has become more affordable over the past 12 months, and we expect further rate cuts this spring. Buyers will also benefit from increased choice, giving them greater negotiating power. Once consumers feel confident in the economy and their job security, home buying activity should improve,” said Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule. “Given the current trade uncertainty and the upcoming federal election, many households are likely taking a wait-and-see approach to home buying. If trade issues are solved or public policy choices help mitigate the impact of tariffs, home sales will likely increase. Home buyers need to feel their employment situation is solid before ...
Post a Comment
Read more

New Listing - 32 Cambridge Avenue

***Perfect Playter Estates Semi In Prime Jackman School District*** Bright & Spacious 3 Bedroom Semi, Open Concept, Updated, Hardwood Floors Thru-out & Bonus In Law Suite In Basement. Very Rare 2 Car Parking, Steps To Subway & Danforth.
Post a Comment
Read more

New Listing - 12 Feldbar Court

***Wonderful 4 Bedroom Executive Style Home In Prime Willowdale East*** Bright & Spacious, Terrific Flow, Generously Sized Rooms, Hardwood Floors Throughout, Multiple Walk-Outs, Finished Basement, Double Car Garage & Bonus Main Floor Office. Lovingly Maintained By Long Time Owner & In Pristine Condition. Awaits Your Designers Touch! So Many Options: Move In, Rent Out Or Renovate To Taste. Steps To Parks, Schools, Shopping & TTC. Earl Haig School District.
Post a Comment
Read more