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Inventory glut pushes down Toronto area house prices


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2017 Dec 6, 7:41am   1,275 views  1 comment

by Patrick   ➕follow (55)   💰tip   ignore  

A wave of new listings pushed home prices lower in Toronto in November as sellers try to lock in deals before new mortgage stress-testing rules take effect in January.

The Toronto Real Estate Board (TREB) said the average home sold for $761,757 in the Greater Toronto Area (GTA) in November, down 2.4 per cent compared with October. The November drop halted a modest price recovery that began in September and continued in October, after a downturn through the spring and summer.

Prices slipped in November as buyers faced a glut of purchasing options, especially for detached houses in the 905 region surrounding the City of Toronto.


https://www.theglobeandmail.com/real-estate/toronto/toronto-home-prices-dip-in-november-as-new-listing-surge/article37193770/
#housing

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1   anonymous   2017 Dec 6, 9:10am  

Price drop needs to come to SoCal. Prices are too BS right now.

Dirty Chinese parking their dirty money everywhere. Need to put a big tax on these purchases.

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