The Toronto Regional Real Estate Board released its 2023 market outlook on Friday 10 February 2023.
Market Influences
- Higher immigration
- Increased borrowing costs
Forecast
70,000 plus sales in 2023
Improvement in the second half of 2023
Average price will be $1,140,000
That’s up from the average of the last six months of 2022
That’s down by 4% compared to the average of all of 2022
Comment
So, there we have it, up (from last six months), down (from last year) and sideways, (wait until the last half of the year).
But, of course, other than that, what you do think of the market?
Brian Madigan LL.B., Broker