CP24 | Real Estate News

It will take Torontonians who make over $236,000 per year about 25 years to save for a down payment on a house, according to a new housing affordability report. But, the report also notes the real estate market is seeing improvement in affordability.

The average selling price of a home in the Greater Toronto Area ticked up again last month as supply continues to lag behind growing demand, the Toronto Regional Real Estate Board says. 1

Last year marked the first time that more than half of investors in newly-completed Greater Toronto Area condos were losing money on their rental properties, and authors of the report that reached that conclusion expect the trend to persist. 1

The GTA housing market appears to have turned a corner 3

Katherine Goodes has always enjoyed her own company, but at the age of 67 she's going to be moving in with three strangers to help make ends meet. 2

Toronto's housing market continued to tighten last month as prices edged up four per cent from March and sales moved closer to the level they were at last April, the Toronto Regional Real Estate Board revealed Wednesday. 1

The Canada Mortgage and Housing Corp. says the average home price will not revert to pre-pandemic levels in 2023 because the recent declines in prices are tapering off in many markets and are expected to bottom out this quarter before starting to rise again.

The Canadian Real Estate Association expects the average price of a home to end the year 4.8 per cent lower than 2022, but says prices will rise by roughly the same amount in 2024.