Market Watch: November 2018
Source: Toronto Real Estate Board
Renewed Price Growth in November
“New listings were actually down more than sales on a year-over-year basis in November. This suggests that, in many neighbourhoods, competition between buyers may have increased. Relatively tight market conditions over the past few months have provided the foundation for renewed price growth,” said Mr. Bhaura.
On December 5, 2018, Toronto Real Estate Board President Garry Bhaura announced the continuation of moderate price growth in November 2018 compared to November 2017.
Semi-detached homes & condos experienced relatively stronger rates of price growth
“Given the impact of the OSFImandated mortgage stress test and higher borrowing costs on affordability, it makes sense that the condo apartment and semidetached market segments experienced relatively stronger rates of price growth in November, as market conditions in these segments remained tight or tightened respectively over the past year,”
– Jason Mercer TREB’s
Director of Market Analysis.