Skyrocketing borrowing costs coupled with economic uncertainty left many potential homebuyers in the GTA sitting on the sidelines in 2023. But sluggish Toronto home sales may not be the story for 2024 if the Bank of Canada follows through with expected interest rate cuts this year, industry analysts say.
Greater Toronto Area home prices fell in July for the second straight month and home sales tumbled nearly 30% as the Bank of Canada continued to raise borrowing costs. .
British Columbia has become the first province to require a three-day cooling-off period for buyers after they ve signed a contract to purchase a home.