TRREB Market Report Highlights - August 2024
Interest Rates Continue to Come Down. Plenty of Options on the Market.
Anticipation for an Uptick in First-Time Buyers.
- Interest Rates Dropped
- On September 4th, the Bank of Canada announced a rate cut, making mortgages more affordable, especially for those with variable rates.
- GTA Home Sales
- In August, home sales in the GTA were down by 5.3% compared to last year.
- More Listings
- The market saw 12,547 new listings in August—1.5% higher than the same time last year, so there are still plenty of options for buyers.
- What’s Next?
- With interest rates expected to keep dropping, we’re likely to see more first-time buyers, especially in the condo market.
Want more details? Check out TRREB's full report here.
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August 2024 vs. August 2023
August 2024 vs. July 2024
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