Home prices way up as inventory and interest rates remain low.
September began with a sharp increase in listing inventory which was quickly absorbed by eager Buyers. Prices stayed high and Sellers weren’t able to replenish listing inventory quick enough resulting in a shift back to a strong Sellers market. Buyers were optimistic as we began the Fall selling season but are now found in a position where decisions need to made very quickly, ducks all in a row, and compromises made. Based on reports from the BoC interest rates are set to remain low further fueling upward pressure on home prices. New rules with respect to income suites have made it even easier to qualify for that hefty mortgage. Need more? Live chat below or contact us.
Over a BILLION in sales in Central Toronto!