The Toronto housing market is experiencing a shift in favor of buyers as condo transactions decrease and prices fall. This trend is evident from a 7% drop in condo rents in the Toronto-Hamilton area over the last six months, and a significant increase in new listings, with Toronto seeing a 47% rise and Vancouver a 65% year-over-year increase in April. Despite the increase in listings, sales have sagged, indicating a potential standoff in the market. Zillow also forecasts a slower market in the upcoming quarter, particularly cautioning first-time home buyers.
Toronto housing market sees spring slowdown despite increased listings https://t.co/OkHt3dCVTX https://t.co/qulRs5cMwr
Toronto’s traditional spring housing market kicks off in favor of buyers as prices fell and new listings rose https://t.co/cJctioLFgC
Toronto housing market hits spring standoff: listings up 47% while sales sag https://t.co/Yq76pjCSxj
65% y/y increase in new listings in Vancouver in April 👀 https://t.co/IdTHExm3pf
Zillow forecasts slower second quarter amid caution among first-time home buyers https://t.co/0kC4TutzI7
Toronto-Hamilton area condo rents fall 7 per cent in last six months — but reprieve may not last long https://t.co/RVSLOGLaqc
As transactions fall, Toronto condo buyers find their leverage https://t.co/kDwCV1rak5