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Housing stock lags behind population growth, the widest gap in 50 years. New home approvals in GTA take 20 months, increasing costs by $43,000-$90,000 per unit.

Toronto’s condo oversupply will continue affecting home prices, keeping growth below average. GTA home sales remain weak but are expected to improve gradually, including in the condo market.

In Toronto, the median condo price has surpassed $600K, making affordability a challenge. Despite this, three Toronto neighbourhoods offer condos under $550K as of early 2024.

Investors and upgraders/downgraders drive detached home-buying in 40% of GTA, 80% of Fraser Valley. Toronto's detached home market led sales growth, with 34% of neighbourhoods showing stability or growth.

National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences. It's a symbol of Canada's commitment to reconciliation with Indigenous communities. Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools. May this day inspire a future where every voice is heard, and every spirit…

Even a full percentage point decrease in mortgage rates will not significantly increase buying power. For example, a decrease from 4.49% to 3.49% on a five-year fixed mortgage would only increase buying power by $65,000.

Land costs account for up to 25% of a new home’s cost, influenced by limited urban expansion. 72% of people support expanding municipal boundaries, while 69% favour higher-density development.

The Toronto condo market in Mid-Q3 2024 saw price adjustments and slower sales, making it a good time to explore options. The GTA witnessed a 5% yearly decrease in benchmark home prices.