Toronto home prices fall for second straight month in July.
![Цены на жилье в Торонто падают второй месяц подряд в июле.](https://cdn.hatamatata.com/pic/blog/4025/cPqQMxMgswbwKSJsgN8UVAHIpA6yorPNoePAF4UY.webp)
Home prices in the Greater Toronto Area (GTA) fell in July for the second consecutive month, with sales falling nearly 30 percent due to continued increases in mortgage rates by the Bank of Canada.
Data from the Toronto Regional Real Estate Board (TRREB) released Thursday showed the region's median home price fell 5.4 per cent in July from June to CAD 1,118,374 ($837,796) and the number of sales fell 29.7 per cent.
"It appears that the sales momentum we saw in the spring has slowed since the Bank of Canada resumed its rate hike cycle in June," said board president Paul Baron.
The Bank of Canada raised interest rates in June after a five-month pause and again in''last month, leaving it at 5%, the highest level in 22 years. Thus, the aim was to slow the economy and contain inflation.
The money market estimates the likelihood of further central bank monetary policy tightening this year at around 75%.
The number of home sales rose 7.8% in July from a year ago, and the average home price rose 4.2%.
16 December 2023
16 December 2023
16 December 2023
16 December 2023
16 December 2023
The number of new housing supply grew faster than the number of sales, rising 11.5% year-on-year.
1 CAD = $1.3349.
(Reported by Fergal Smith; Edited by David''Gregorio)
Comment
Popular Posts
16 December 2023
2
16 December 2023
3
16 December 2023
0
16 December 2023
0
Popular Offers
![Арендовать flat в Portugal 3492£](https://cdn.hatamatata.com/pic/property/34491/cover.webp)
![Арендовать house в Portugal 707£](https://cdn.hatamatata.com/pic/property/34487/cover.webp)
![Арендовать flat в Portugal 809£](https://cdn.hatamatata.com/pic/property/34479/cover.webp)
Subscribe to the newsletter from Hatamatata.ru!
Subscribe to the newsletter from Hatamatata.ru!
I agree to the processing of personal data and confidentiality rules of Hatamatata