Greater Toronto area home sales declined in May for a fourth straight month, while prices rose marginally, data showed on Wednesday, as home buyers waited...
OTTAWA - Greater Toronto area home sales declined in May for a fourth straight month, while prices rose marginally, data showed on Wednesday, as home buyers waited for the central bank to start lowering borrowing costs.
TRREB in a statement did not provide an explanation for the fall in sales in May, though it has previously said monthly figures can be volatile when the market is approaching a transition point.The central bank's next rate decision is scheduled to be announced at 9:45 a.m. on Wednesday, when financial markets and economists see a strong chance of a 25 basis point cut.
"Affordability is expected to improve further as borrowing costs trend lower. However, as demand picks up, we will likely see renewed upward pressure on home prices as competition between buyers increases," Mercer added.Traders who scooped up Warren Buffett’s Berkshire Hathaway shares at a massive $620,000 discount during glitch will have their deals canceled by the NYSE
BofA says chip stocks won't peak until mid-2026, and that these 3 sub-industries will thrive until then
Jason Mercer Greater Toronto Area Bank Of Canada
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