Has Toronto's housing rebound already peaked? June figures, rate hikes are cause for concern

Toronto\u0027s real estate market may have reached its potential peak in May. Find out more.

In an email, John Pasalis, president and broker of record at Realosophy, a Toronto real estate brokerage, expressed the potential impact of further rate hikes on the market. Pasalis stated, “If additional hikes discourage more buyers, there is a chance we may witness some downward pressure on prices.”

“It’s hard to say specifically what metric makes something a buyers’ market. But generally, we’re still in a seller’s market,” Pasalis said in an interview. “There are still multiple offers. It’s just cooling. It’s just not as competitive as it was a month or two ago … but we’re probably moving in that direction.”Article content

and interest rates. Furthermore, a persistent lack of inventory likely sidelined some willing buyers because they couldn’t find a home meeting their needs. Simply put, you can’t buy what is not available.”Article content

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