“Buyers started moving off the sidelines in the spring, as evidenced by strong year-over-year price
growth throughout the second quarter. However, because we saw virtually no change in the number
of new listings, market conditions tightened and price growth picked up, especially for more higher
density home types, which, on average, are less-expensive than traditional detached houses and
therefore provide more affordable housing options under the new OSFI stress test regime,” said Jason
Mercer, TREB’s Chief Market Analyst.