Real Estate Market Recovery Hit Another Bump
Overview of important developments in the Toronto Metro housing market and macro reported in February 2024
Highlights
There was a big jump in Toronto Metro Real Estate prices, but the market weakened in February.
Rents were unchanged compared to last year, however, the rental market is slowly gaining strength.
Record low pre-construction condo sales.
Strong housing starts and completions in Toronto Metro.
Interest rate cuts in 2024 may have a limited impact.
Record-high inputs for Canada's population growth continue.
Wage growth is elevated, posing an upside risk to inflation.
Real Estate Market
In February, sales activity in Toronto Metro declined while new listings increased compared to the 10-year average.
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