Average condo rents rose by double-digit percentages across the board. TheReal_TRREB realestatenews Toronto rent housing
Prospective homebuyers — particularly first timers — looking for a foothold in today’s housing market found better balance in the condo segment this past spring, as sales dropped and long-term inventory significantly improved. reports a total of 5,687 condo units traded hands between April and June, representing a year-over-year decline of 35.2%. Meanwhile, the supply of new listings stayed relatively flat — a total of 14,316 came to market, an annual difference of -0.9%. That’s led to a 27.
TRREB President Kevin Crigger says that the condo segment has been more resilient than other home types followingRBC Downgrades Housing Market Forecast, Calls for Historic Correction “Condo market conditions became more balanced in the second quarter, with buyers benefitting from substantially more choice. However, the pace of annual average price growth remained above the rate of inflation, particularly in areas outside of Toronto that are offering attractive price points,” says TRREB Chief Market Analyst Jason Mercer.In contrast to the ownership market, condo apartment rental conditions are becoming even more competitive.
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