Toronto is a Buyer's Market Again
Overview of important developments in the Toronto Metro housing market and macro reported in July 2023
Highlights
Toronto Metro entered a Buyer’s market with prices expected to decline further.
The rental market in Toronto Metro is strong but slowly weakening despite record population growth. The market response is different in other cities.
Both real estate and the US stock market are currently experiencing historically low levels of investment attractiveness.
Unsold new construction inventory is steadily growing.
The latest Monetary Policy Report revealed a significant amount of household excess savings, although, National Bank disagrees.
Household credit card debt is rising rapidly, exceeding pre-pandemic trends.
Oil prices rise above the target, presenting an upside risk to inflation.
Resale and Rental Markets
Toronto Metro Real Estate market continued to slow down in July, marked by a further reduction in sales and a slight uptick in new listings in comparison to the 10-year average.
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