CMHC just published their economic outlook for the Toronto Real Estate market and the detail is worth reading.
12% reduction in the detached homes for sale in Toronto [continued multiple offers]
Higher numbers of families moving from Condominium units to the 905's
Flat interest Rates until the later part of 2015
Unemployment Rates continue to decrease to 8%
Vacancy Rates continue low at 1.8%
This means that nothing much is going to change. Source article http://www.cmhc-schl.gc.ca/odpub/esub/64319/64319_2014_B02.pdf
Sorry to all the doom Predictors about the Sky Caving in ....
The Toronto Condo market is strong. Inventory is modestly higher, yet new arrivals to the City need a place to live and get settled.
Are you looking at housing that suits you better?
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