The GTA housing market took another hit in June as more buyers took a wait-and-see approach amid rising borrowing rates. Story by: m_zadikian
Home sales sank 41.4 per cent in the month compared to last year, the Toronto Regional Real Estate Board said Wednesday, as 6,474 properties changed hands.
All types of properties across Greater Toronto suffered double-digit sales declines ranging from 30.8 per cent to 44.4 per cent .“Home sales have been impacted by both the affordability challenge presented by mortgage rate hikes and the psychological effect wherein home buyers who can afford higher borrowing costs have put their decision on hold to see where home prices end up,” said Kevin Crigger, TRREB’s president, in a press release.
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