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Business Matters: Economists say flood of loan renewals driving masters to list homes
See: Business Matters: Economists say flood of loan renewals driving users to list homes – Jul 18, 2024
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Greater Toronto home sales decreased marginally previous month to cover a year in which buyers benefited from” substantial dealing authority” on cost. According to the Greater Toronto Area’s 3 359 properties sold in December, a 1.8 % decrease from the 3, 419 sales in the same quarter last year, according to the Toronto Regional Real Estate Board. The average selling price declined 1.6 per cent compared with a month earlier to$ 1, 067, 186, as the hybrid benchmark rate, meant to represent the common house, was off by less than one per cent year-over-year. The committee says 2024 was a” transitionary” year for the state’s housing sector as selling rose 2.6 per share to 67, 610 — outpaced by a 16.4 per cent increase in new advertisements, at 166, 121. Trending Then
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It claims that this successfully prevented widespread price growth and gave consumers” substantial choice” in the marketplace. In 2024, the average selling price for all household kinds combined was$ 1, 117, 600, a decrease of less than one percent compared to 2023. Elechia Barry-Sproule, president of TRREB, claims that the Bank of Canada’s price reductions in the second half of the year helped the industry despite the fact that they” significantly raised home sales prices below the norm” in 2024.
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