Key Toronto Homebuying Season Turns in Buyers’ Favor This Year
- Number of properties put up for sale soars from year ago
- Many would-be buyers may wait for BOC rate cuts, Pearce says
This article is for subscribers only.
Toronto’s traditional spring housing market kicked off in favor of buyers as prices fell and new listings rose from the same time last year.
The number of properties being put up for sale surged 47% from a year ago, according to a report Friday from the Toronto Regional Real Estate Board. The benchmark price for a home in Canada’s largest city fell 1% to C$1.128 million ($826,000) last month from April 2023, not seasonally adjusted.