Canada Economics

Canada Chart Book

13 June, 2017

Housing market poised for correction

Toronto’s housing real estate boom is turning to bust. After reaching a record high last quarter, seasonally adjusted home sales have plummeted by 30% so far this quarter, while new listings activity has risen by a similar margin. Based on the slump in the home sales-to-new listings ratio, Toronto’s large housing market now appears poised for a correction in house prices before year-end.

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