Following a very strong start of the year in 2022, home sales, trended lower in the spring and summer of 2022. The decreasing trend is a result of the Bank of Canada interest rate hikes affecting housing affordability.
The supply of new listings continued to be an issue as the year progressed. The number of homes listed for sale in 2022 is down in comparison to 2021. Lack of supply has also affected the rental market thereby increasing rent in to the double digits.
Toronto & GTA
Have you been thinking about moving? Wondering what your home is worth today with the shifting real estate market? Wondering if now is a good time to make a move?
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