June's new home remaining inventory increased compared to previous months, reaching 16,379 units, something bildgta says had a 'softening impact on prices.' RealEstate Ontario
New home sales in the Greater Toronto Area spiked in June compared to the same time last year, and yet, were still significantly below the 10-year average for the region.
The most affordable market segment — condominium apartments — dominated sales, accounting for 1,957 of June’s transactions, up 11% from June 2022 and down a smaller 21% from the 10-year average. Altus Group Research Manager Edward Jegg said that new home sales “took a step back in June,” with buyer hesitancy having returned amid rising interest rates. A simultaneous increase in inventory, however, “eased pressure on prices.”
The benchmark price for a new condo apartment fell 8.4% year over year to $1,090,494, meanwhile the benchmark price for new single-family homes dropped 6.9% year over year to $1,716,467.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Income required to buy a home in Ottawa jumps $4,600 in one monthThe average income needed to buy a new home in Ottawa increased $4,600 from May to June as mortgage rate hikes took hold and the cost of a home increased in the capital.
Read more »
Three homes destroyed, fourth damaged in Cassidy mobile home fireA fire in the Timberland Mobile Home Park in Cassidy has destroyed three homes and damaged a fourth, according to the fire department.
Read more »
Man convicted in stray-bullet killing of Puerto Rican Olympian's mom in her Connecticut homeA Connecticut man has been convicted of murder in the stray\u002Dbullet killing of the mother of a two\u002Dtime Olympian rifle shooter from Puerto Rico.
Read more »
Toronto home prices are tanking as people abandon the turbulent marketBuyers are pulling away from Toronto's real estate market, new home prices are on the decline, and experts are pinning the blame, at least in part,...
Read more »
PFC says striker Daniels 'doing well' after injuryForward resting at home with concussion
Read more »
New York Yankees slugger Aaron Judge faces live pitching for the first time since right toe injury | TSNNew York Yankees slugger Aaron Judge faced live pitching on Sunday for the first time since tearing a ligament in his right toe on June 3.
Read more »