Hello, everyone. I provide you with Canada’s news headlines for real estate news for today.
‘The market has changed’: Buyers welcome cool-down in Toronto housing market
According to CBC News,
The latest real estate numbers out of Toronto this week show a marked slowdown in terms of prices and sales volumes. And while that’s causing consternation for sellers, the cooling is welcome news for one segment of the market: those who have been trying to get in.
The Toronto Real Estate Board revealed Monday that the average price of a home in the GTA was $863,910 in May, down more than six per cent from last month’s level. And the volume of sales was also lower, down by 12 per cent.
The detail is here.
GTA home sales plummet after Ontario changes
According to The Record,
Home sales in the Greater Toronto Area plunged 20.3 per cent last month compared with a year ago, according to the latest data from the country’s largest real estate board, a sign that recent efforts to cool the searing market are having the desired effect.
However, some economists and realtors say the impact of the measures, which include a 15 per cent tax on foreign buyers in the rapidly growing Greater Golden Horseshoe region, could be short-lived.
The detail is here.
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Jethro Seymour, Toronto Real Estate Broker, Looking For Best Leaside Real Estate Listings? Contact Me!
Also published on Medium.
