In November, GTA home prices held at $1,082,179 despite a mid-year dip from interest rate hikes. Inventory decreased by 2,781 but rose by 4,849 YoY to 16,759 active listings. Economists anticipate interest rate cuts, creating favorable conditions for buyers. Semi-detached homes remain stable at $1,060,829, while the detached segment saw a 20% inventory drop, averaging $1,403,500 in sales. Condo sales are active, with a 50% year over year inventory increase.
Chrystia Freeland's announcement addresses 2 million mortgage renewals, offering relief in a higher interest rate environment. The current period is deemed opportune for buying due to factors like immigration, housing supply constraints, and potential lower interest rates.
