The average selling price in the Greater Toronto Area was down 1.6 per cent year-over-year to $1,162,167.
Ipsos polling for TRREB indicates that cumulative rate cuts of at least 100 basis points, or a full percentage point, would be required to boost home sales by a meaningful amount. "I guess all the sellers have been holding off for some time now. Everyone probably had the same idea, like 'let's wait till the rate cut,'" she said.
“The GTA housing market is currently well-supplied. Recent homebuyers have benefited from substantial choice and therefore negotiating power on price," said TRREB chief market analyst Jason Mercer in a news release.
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Greater Toronto home sales down 16% in June despite Bank of Canada's rate cut: boardTORONTO — The Toronto Regional Real Estate Board says home sales in June declined 16.4 per cent from last year, with many potential buyers staying on the sidelines despite the highly anticipated Bank of Canada interest rate cut.
Source: SooToday - 🏆 8. / 85 Read more »
Greater Toronto home sales down 16% in June despite Bank of Canada's rate cut: boardThe Toronto Regional Real Estate Board says home sales in June declined 16.4 per cent from last year, with many potential buyers staying on the sidelines despite the highly anticipated Bank of Canada interest rate cut.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Toronto home sales plummet 16% in June as potential buyers stay on sidelines: boardThe Toronto Regional Real Estate Board says home sales in June declined 16.4 per cent from last year, with many potential buyers staying on the sidelines despite the highly anticipated Bank of Canada interest rate cut.
Source: CTVToronto - 🏆 9. / 84 Read more »