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Greater Toronto Home Sales as Mortgage Cost, Weight on Trade War Buyers: Board

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Greater Toronto Home Sales as Mortgage Cost, Weight on Trade War Buyers: Board
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Home sales in the big Toronto area fell more than a quarter a year ago in February, which buyers maintained the power of “significant” negotiations.

The Toronto Regional Real Estate Board says that in February 2024, 4,037 homes were sold below 27.4 percent compared to 5,562. From January, the sale was 28.5 percent on adjusted on adjusted.

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The average sales price fell 2.2 percent to 0 1,084,547 compared to a year ago, because combined benchmark price, to represent a typical home, was down 1.8 percent in the year-by-year year.

Meanwhile, 12,066 properties were listed in the GTA last month, up 5.4 percent over last year, as the total inventory in the sector has increased 76 percent to 19,536.

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The board says that the expected reduction in borrowed costs in the next month should improve, as some buyers are concerned about the current monthly payment on typical property.

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Jason Mercer, an analyst at Trreb’s chief market, says the US by Canada Macroeconomic factors such as narrow trade relationships will also be buyers who are taking a “tend to wait for buying a home”.


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