Toronto Housing Prices Start to Make a Comeback

The Toronto housing market shows resilience despite a slump in sales activity. Year-over-year data reveals a 15% drop in average home prices due to higher interest rates and fewer listings. Sales of various home types have decreased significantly, with semi-detached homes seeing a 43% drop. However, month-over-month data indicates a 44% increase in sales and a 2.5% rise in prices, suggesting signs of stabilization. The Toronto Real Estate Board notes increased competition, led by first-time buyers. The Bank of Canada's upcoming rate decision may impact the market further.

What is the primary reason for the decline in Toronto's housing prices over the past year?

• Decrease in population

• Government regulations

• Higher number of listings

• Increased interest rates

By what percentage have sales of semi-detached homes in Toronto decreased year-over-year?

• 25%

• 30%

• 43%

• 17%

What trend is observed in the Toronto housing market from February to March?

• Listings doubled

• Sales decreased by 44%

• Prices fell by 2.5%

• Sales increased by 44%

Who is leading the housing recovery in Toronto according to the report?

• Real estate investors

• First-time home buyers

• Foreign buyers

• Retirees

What is the anticipated event that could impact the Toronto housing market?

• An increase in foreign investments

• The Bank of Canada's rate decision

• A new government policy

• A major real estate conference