Toronto Real Estate Crisis: Most Listings in a Decade

Michael Duggal delves into three predictions for Toronto's real estate market, factoring in the current shifts in market conditions. With interest rates dropping, inventory surging to over 20,000 listings, and home sales down. what does the future hold for homeowners and buyers? With a current backdrop of declining home sales, reduced average prices, and a surge in listings, I'll examine how these elements will play out.
⏰TIMESTAMPS⏰
00:00 Introduction
00:29 GTA Numbers 2023-2024
02:08 Average Price By Property Type
02:55 5-Year Historical Average Price
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[@michaelduggal8983]

⏰TIMESTAMPS⏰ 00:00 Introduction 00:29 GTA Numbers 2023-2024 02:08 Average Price By Property Type 02:55 5-Year Historical Average Price

[@user-or7pp3ql4e]

If you are a buyer and dont care about losing money in the short term...then this is a great time for you!! There is nothing with looking more at the qualitative then the quantitative!!

[@user-or7pp3ql4e]

Opps Nothing wrong with qualitative over quantitative....also great info once again!!

[@michaelduggal8983]

Well said, thank you!

[@mlee981]

1st

[@michaelduggal8983]

Congratulations

[@ganarama5726]

Bank of Canada should not cut the rates anymore. The only way to bring the real estate down is to keep the rates above 6%. If the home prices are down then the interest rates won't impact the affordability. The main problem is that people/investors are buying houses as how they buy stocks and now they crying about affordability. The interest rate increase will not affect anyone if the average house prices drop to $500,000 instead of $1,000,000. The bank should keep increasing the rates to keep the speculative buyers out of the market. Buyers should not get into the market now and wait till the prices drop further.

[@michaelduggal8983]

Thanks for sharing!