GTA home sales will decline to their lowest level since 2001 this year despite a rebound in the second half, TRREB forecasts. Read on.
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The group’s market outlook, released on Feb. 10, said home sales will decrease to a total of 70,000 sales in 2023, down from 75,140 in 2022 and 121,712 in 2021. The total would be the lowest tracked on the TRREB MLS system since 2001, when 67,612 sales were recorded, according to historical data available on the group’s website.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
While TREBB’s chief market analyst Jason Mercer said the first half of the year will feel similar to the fall of 2022 due to the lingering effects of higher borrowing costs and related economic uncertainty, the second half will see an increase in demand for ownership, thanks to lower
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