Market Update: June 2019
June 5, 2019 – The year-over-year uptick in sales experienced so far in the second quarter of 2019 suggests that home buyers in the Greater Toronto Area has edged upwards since the fall.
After a sluggish start to 2019, the second quarter appears to be reflecting a positive shift in consumer sentiment toward ownership housing. Households continue to see ownership housing in the GTA as a quality long-term investment as population growth from immigration remains strong and the regional economy continues to create jobs across diversity of sectors. However, sales activity continues to be below the longerterm norm, as potential home buyers come to terms with the OSFI mortgage stress test and the fact that listings continue to be constrained relative to sales.
Source: Toronto Real Estate Board
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