Sunday, 7 January 2024

Toronto Real Estate Sales Rise As Prices Roll Back To 2021-Levels

 JANUARY 4, 2024

Greater Toronto real estate attracted some more buyer’s, but not enough to change its trend. TRREB data shows composite home sales made an uptick in December. Despite a small increase in sales, lingering inventory remains higher than usual, pushing prices lower. Having shed a fifth of value since hitting the all-time high, prices are still falling and have rolled back two years of gains. 

Greater Toronto Real Estate Prices Are Still Plunging 

Greater Toronto real estate prices spent another month dropping even further. The TRREB composite benchmark price fell 1.3% (-$14.1k) to $1.067 million in December. In the City, a similar trend saw the cost of a typical home fall 1.1% (-$11.2k) lower to $1.053 million over the same period. Both measures are within spitting distance of prices last year, varying less than a point. 

Greater Toronto Real Estate Prices Are Back To 2021-Levels

The composite benchmark price of a home across Greater Toronto.



https://betterdwelling.com/toronto-real-estate-sales-rise-as-prices-roll-back-to-2021-levels/




Saturday, 6 January 2024

Condo builder plans to build rental-only detached houses in Ontario

After being vilified for its plans to buy $1-billion worth of houses in Ontario to rent them out, Core Development Group Ltd. says it now also wants to build new rental houses from scratch, writes Younglai. Two years ago, Core’s founder and chief executive officer, Corey Hawtin, told The Globe and Mail that the company would buy hundreds of detached houses in mid-sized Southern Ontario cities, which was met with a wave of criticism and accusations of taking homes away from Canadians. Hawtin says he now sees a chance to build single-family homes that are purpose-built for rental. The company is under contract on two sites, one in Kingston and one in London, which Hawtin says each have the necessary permits for up to 250 single-family homes.