Under Pressure – Toronto Real Estate Market Update, February 2019 stats.
A market Under Pressure. The numbers are out for February 2019!
Prices went up 1.6% but sales are down 2.4%. Pressure is building for the Spring Market and we predict more price increases in the coming months. The market is in dire need of more supply and our Governments need to better assist developers/sellers going forward in bringing more inventory to the market.
Toronto’s Market continues to defy the Canadian Real Estate Marketplace and is the safest place to buy or sell a property at this juncture even with added pressure on price. Supply constraints aside; BoC rates held/dovish stance, jobs growth, no major sector collapse, banks may cut rates, continued migration and world-class amenities under construction provide a solid base for your city – Toronto. Not to mention some mortgage regulations that may be scrolled back(we are not so patiently waiting for removals).
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