Stage set for accelerating market recovery in 2025, says TRREB
New listings rose 6.6 per cent from the year before, but demand outpaced supply, tightening market conditions.
“With selling prices remaining well off their historic peak and monthly mortgage payments trending lower, the stage is set for an accelerating market recovery in 2025,” said TRREB president Jennifer Pearce.
The biggest gains were in detached homes with sales up 3.9 per cent year over year. TRREB said that “the detached market segment experienced average annual price growth above the rate of inflation, particularly in the City of Toronto.”
“Condo buyers are benefitting from a lot of choice and therefore negotiating power,” said TRREB’s chief market analyst Jason Mercer, adding that improving borrowing conditions could encourage renters to transition into ownership.