Greater Toronto Area home sales down 16% in June | CTV News Toronto at Noon for July 4, 2024

The Toronto Regional Real Estate Board says home sales in June declined 16.4 per cent from last year, with many potential buyers staying on the sidelines despite the highly anticipated Bank of Canada interest rate cut.
The board says 6,213 homes changed hands in the month compared with 7,429 in June of last year.
The average selling price in the Greater Toronto Area was down 1.6 per cent year-over-year to $1,162,167.
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[@pancakes3ful]

Prices cuts, not rate cuts .Most people cant even qualify for these prices.

[@Enncore]

Yes, should be limited only one home for family why they buy multiple investment properties where people are struggling to own a home 🏠

[@keyboardcommando7493]

Need the home prices to come down at least 50% 😅

[@AG-hl1ni]

never will happen

[@keyboardcommando7493]

@AG-hl1ni I understand, however if we decided to make prefab structures we would be able to drastically decrease homes

[@momofighter3211]

Everyone's retirement is tied to their home and the big banks as well. Its a domino that is hard to fall but if it does, its gonna go out in a big boom!!

[@katherinehunter9526]

​@momofighter3211 Yes, you are absolutely correct!

[@antonio-w6x3b]

Canada is a literal Train Wreck right now

[@shaylagoogle3097]

If ppl can't afford food prices, how are they going to afford a home? Let's do the math ppl. No sale.

[@user-zj9sn4nu9j]

Well, no shit, nobody can afford it.

[@SmilingBakedBaguette]

Lowest sales volume for June in the last 10 years.

[@ktp.]

Whoever wants to be indebted and stuck here is out of their minds.

[@nielsbeck7461]

Its house prices not rates that are the main problem

[@markeves8949]

Home owners are being eyed by Trudeaubforva new TAX.

[@AbeySampson-ow8pz]

If the home for sale for $450 thousands then any one can afford 5.4% 5 year fixe mortgage rate but no one can afford $1.2 million home

[@stephenr6194]

Affordability is house price come down not interest rate!

[@chrisministerofsmartarsery3322]

Who are the traitors in the Canadian government?

[@Salmiyaguy1]

interest rates are set by the bank of Canada and the governor of the bank.

[@seansmith6380]

😂 you’d be stupid to buy in now😂😂😂😂

[@bikingD]

Why? If you buy now prices are falling. Second interest goes down home sales go up and prices go up. Even with interest where it is just bought and my mortgage is $1,200 a month less than what my rent is. Plus a nicer place and I own it. Easy choice. Problem is people who over extended themselves now interest is up and got jammed.

[@49xers]

What happened, did all the immigrant’s move out? Now these properties are unsellable because of how they usually leave them. Only reason the prices would decrease.

[@mrnice9922]

Mortgage above 3% in is brutal. In big cities

[@AnanyaaIyer]

What's the whole point? The grocery in itself stands unaffordable forget about buying a house. I pray the situation changes someday sooner than later.

[@tiwowo1234]

THIS IS BANK WANT!!

[@bikingD]

Don't lower interest rates. Second you do sales go up. Prices go up and people over extend themselves. At this rate homes are available. Prices going down and real home buyers vs investment speculators are buying.

[@shadexhi2]

Its insane how the media is avoiding talking about price crashes. Nobody has any money!!! Only way homes get sold are when they're priced as a home again and not priced like an investment. At least another 30% price reduction is needed, not 1% less intrest.

[@mr8966]

Why? You’d buy a house and there’d probably be people living in tents in your front and back yard within a week that you oegally aren’t allowed to remove. Fun for the whole family.

[@AbeySampson-ow8pz]

CP 24 not telling the truth in Brampton more then 19 homes for sale on one street since June 23rd not a single one sold yet

[@BogieTokes]

This country reminds me of one of my favourite albums by this Canadian band called Boys Night Out. It’s called Trainwreck. They’re from Burlington check em out

[@georgehiotis]

We are on the cusp of a housing market depression as the fiscal and monetary policy of Canada in incoherent and driven by incompetence. Plus, now there is talk of eventually taxing principal residences.

[@madchemist126]

Hahahaha. "We don't know whats happening out there, we can't see at all but it's not a pretty sight" .....You don't know whats happening, haven't seen whats happening but you're sure its not good. What an informative interview.

[@sweetsopp]

Good

[@RTgrl]

What's missing from the revue story is that the landlord is trying to evict the revue so they can take over the cinema and run it themself. They even went to all the staff and tried to rehire them for the same job they're already doing in the same place they're doing it. Landlords in this city need to stop acting like cartoon villains.

[@hchalz]

The Canadian government must act right away, and hike the development fees to at least $1MM for each home.

[@jstarkillah6502]

I see everyone selling there house especially the rich my mom can’t even move from where she lives so my brother can have a place to raise his son

[@promenadeable]

weather person language is really dumbed down....how about instead of saying "pop-up showers"....using educated language such as "spontaneous" showers......smh.....

[@jiayeyang]

Suspended with pay. Nice!!

[@tippic9252]

Right!?? Our tax dollars pay his salary. If that was you or I, we'd be in jail, have bail offer or stay in jail until trial (I think that's how it goes for common, not above the law folks). He just gets to stay at home selling the rest of his stash and get his excuses figured out before he gets a slap on the wrist.

[@TBA-zv9qt]

Don't worry, money launderers will come back 😂😂😂

[@Megafoot2164]

Oh Canadian media, Canadian media ! Thou doest report on residential real estate like the stock market. Once the bastion of the working class, now it’s reporting the daily fluctuations to the investor class of purchasers. Which, don’t get me wrong it is an investment for both but, there was a time when people weren’t concerned about fast returns. A home, was always assured to rise, not in a meteoric fashion but slowly, steadily. Taking decades not weeks or years. 🇨🇦✌🏼🇨🇦✌🏼🤨

[@chesspain6704]

There is no way this real estate super bubble will every go the other way. That is just not possible 😂😂😂😂😂

[@butwhytharum]

We need lower rates to keep the Ponzi scheme going!

[@CatharineCarroll]

😊❤

[@bumbarossdundahae6312]

well one your crazy if you want to live in that dump of a city that is toronto but the fact youll pay 1 million dollars for a home infested with bed bugs and roaches thats a big reason why lol