Toronto Regional Real Estate Board says home sales bogged down by interest, mortgage rate hikesThere were 5,038 home sales in the Greater Toronto Area in September.
The numbers mark a continuation of a market cooldown that has already put a damper on bidding wars and discouraged some sellers from listing their properties because they likely won't fetch as much money as their neighbours did at the start of the year, when the market was moving at a torrid pace.There were 5,038 home sales in the Greater Toronto Area in September.
The region also saw 11,237 new listings, an almost 17 per cent drop from a year ago and the lowest number for the month since 2002. The fall in new listings was coupled with the composite benchmark price reaching $1,086,762, a 4.3 per cent dip from last year, but an almost one per cent rise from August.
Source: News Formal (newsformal.com)
There’s still more room to go to the bottom. Real estate’s not there yet. Probably 25% more to go. And stay for a long time too.
Realstate are putting too many advertisements to create more sales foor theirs own benifits. People put for more sale, real estate down the market. They're sucking(absorb) for themselves. Every news is lies by professional. Professional only aims to make money even doctors.
Thanks Justin
Nobody wants to list now and the prices are barely down at all. Even higher interest rates can’t stop the price growth with immigration levels and multi gen families wanting into Toronto
Good!
Thanks tips.
Toronto It was a bubble, and they know it
Toronto Wasn’t that the goal of higher interest rates?
Toronto But not bogged down by the over-inflated prices of the homes themselves?
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