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Mortgage Broker News | 04 Oct 2018, 09:47 PM Agree 0
Supply, rather than demand, would be the Toronto market’s major challenge in the near future
  • Andrew | 05 Oct 2018, 10:23 AM Agree 0
    We don't trust a person with conflict of interests...They keep manipulating the market to paint a bullish view even when the actual market status is not bullish, for example, the last report Usually September have much higher sales and prices than Aug but NOT THIS YEAR...monthly basis, sales dropped from last month (Yes Sep have weaker sales than Aug, Sep sales was 6,455 and Aug was 6,839, that's 6% drop MOM!!!. The average selling price, after preliminary seasonal adjustment, edged lower by 0.5 per cent month-over-month (2nd decline in row mom). The average detached house price dropped 0.6 per cent YOY (we didn't recover at all from last year )....keep in mind that last year we saw sales 35 percent down from the year before and last month sales is the same but with much HIGHER active listings ( not mentioned by TREB news summary but its up 5.6 percent) and HIGHER avg days on the market by 8.3 percent !!! ( also not mentioned by the news to the media on purpose..) .meaning HIGHER MOI this year...looks we will have a very cold winter for housing market ..especially with another hike in 3 weeks and another one in Jan...the promised recovery never happened Also look at the prices in the market watch report for diff areas, other than condos and some town houses, YOY and even MOM (for most cities) prices still in negative and of course York region is the worst, I will add how much we lost from the the peak so far
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