Toronto Deepens into Buyer's Territory, While Calgary Holds Strong as a Seller's Market

Overview of important developments in the Toronto Metro housing market and macro reported in October 2023

In October I published: “The Current State and What's Next for the Toronto Housing Market? (Part II)” which is the follow-up to my article written back in 2022. Feel free to explore it if you haven't already(link).

Also, before we get into today’s content, I have a small favour to ask. If you believe my work benefitted you financially I’d love to hear your story. Monthly changes in real estate prices are often measured in dozens of thousands of dollars so the accuracy of the analytics is crucial. On the other hand, if you feel you are worse off because of my work, I’d love to hear from you as well. Shoot me an email or DM. Thank you!

Highlights

• Toronto Metro is a buyer’s market and it continued to slow down in October.

• The rental market softened further while maintaining a balanced state.

• Pre-sale prices are down and the inventory of unsold units is rising.

• Nationally real estate market is weakening but not in a uniform way.

• Record population growth inputs with a slowdown on the horizon.

Resa…