Across the Toronto region, with the exception of condos, year-over-year home prices have remained relatively flat, although they inched up 2.5 per cent overall in June, led by a 9.5 per cent increase in condos, according to the Toronto Real Estate Board (TREB).
But traditional, detached houses have been making a quiet comeback, said Christopher Alexander, Re/MAX Integra’s executive vice-president and regional director. “The condo story was overshadowing a lot of the activity of single-family detached,” he said. “The fact remains that people who bought in the last seven years, prior to 2016-2017, gained a lot of equity and market conditions were easier for buyers to make decisions they felt comfortable with.”
Re/MAX found that conditions this year are showing signs of a new normal that looks more like the pre-fevered market. That heated market sagged when the Ontario government launched its cooling measures, such as a foreign buyers tax in April 2017 and interest rates started rising as consumers were hit by tighter borrowing restrictions. [기사 전문 ↓]
Source: Toronto’s detached house prices make comeback: Report | The Star