Sales Commentary Can this market get any slower? Sales for July on TRREB were 4912 units. This was down 47% from July of last year, but more importantly to market watchers, down 24% from June. This marks four consecutive months of sale decreases. If there is a sliver of hope, ‘active listings’ for July are…

“Condo market conditions became more balanced in the second quarter, with buyers benefitting from substantially more choice. However, the pace of annual average price growth remained above the rate of inflation, particularly in areas outside of Toronto that are offering attractive price points,” said TRREB Chief Market Analyst Jason Mercer.

Sales Commentary Sales on the Toronto Regional Real Estate Board in June were 6474 units. This was the lowest sales month in 18 months (not counting December). The question is: when will we reach the bottom? Trying to predict the top or the bottom of any market is difficult. The best one can do is…

“Home sales have been impacted by both the affordability challenge presented by mortgage rate hikes and the psychological effect wherein home buyers who can afford higher borrowing costs have put their decision on hold to see where home prices end up. Expect current market conditions to remain in place during the slower summer months. Once…