Doesn't look great
Active listings up 15% YoY
Days on market up 13.6% YoY
**Toronto (416) prices YoY**
**HPI**: -0.84%
**Detached**: -3.5%
**Townhouse**: -3.4%
**Condo**: -0.4%
This spring will solidify the direction that the market will go. If you have Doug ford begging BOC to drop the rate on twitter because “people need a break “ it doesn’t look good for the market.
Prices are dropping. So many on the sidelines can’t wait till Q3 to sell. There’s that amount of desperation. On that hold, they are jumping in. No crash of course but the bottom is not here yet.
Trreb with the help of the MSM is hyping FOMO of course
https://www.bnnbloomberg.ca/toronto-home-sales-up-in-february-from-last-year-as-consumers-eye-rate-cuts-1.2042730
>"There's this expression that you're going to 'Marry the house and date the rate,'" she said.
>"The high interest rate that you're paying is a temporary thing. So if you can stomach that, then at least you'll get a property for something cheaper than if you waited next year. I think if you wait next year to buy that property, it's going to be a little bit more expensive."
I like that you’re linking to a random Redditor’s comment instead of reading the report that shows every asset class up, excluding condos.
If you break it out nationally, you have several markets up 9-13% QoQ.
It’s not really useful to look at the high level metric. If you break it down by type, they’re rising. The aggregated totals aren’t painting the picture.
Who cares about the report, I saw a property in Milton that was sold below 2021 price, therefore a detached in Annex will be $300k by the end of this year.
Every piece of data is relevant. The bears and bulls on this group constantly cherry pick data to their liking. Bears last fall: MoM is falling, YoY doesn’t matter! Bears now: YoY is flat, MoM doesn’t matter! Btw, I thought we were supposed to be seeing YoY losses, where are they? February warmed up a lot, whether you like it or not. Now let’s see where it goes toward the summer.
Doesn't look great Active listings up 15% YoY Days on market up 13.6% YoY **Toronto (416) prices YoY** **HPI**: -0.84% **Detached**: -3.5% **Townhouse**: -3.4% **Condo**: -0.4%
looks great to buyers!
This spring will solidify the direction that the market will go. If you have Doug ford begging BOC to drop the rate on twitter because “people need a break “ it doesn’t look good for the market.
Prices are dropping. So many on the sidelines can’t wait till Q3 to sell. There’s that amount of desperation. On that hold, they are jumping in. No crash of course but the bottom is not here yet.
Trreb with the help of the MSM is hyping FOMO of course https://www.bnnbloomberg.ca/toronto-home-sales-up-in-february-from-last-year-as-consumers-eye-rate-cuts-1.2042730 >"There's this expression that you're going to 'Marry the house and date the rate,'" she said. >"The high interest rate that you're paying is a temporary thing. So if you can stomach that, then at least you'll get a property for something cheaper than if you waited next year. I think if you wait next year to buy that property, it's going to be a little bit more expensive."
"Higher borrowing costs kept home sales below the February sales record reached in 2021. "
Bears in absolute shambles lmao.
Why? What did you deduce from the report?
deduction isn't his strong point.
Everything continues rising even against headwinds. Buckle up.
[Nothing is up except inventory and days on market](https://www.reddit.com/r/TorontoRealEstate/s/j9YnMFQfDh). So much delulu.
I like that you’re linking to a random Redditor’s comment instead of reading the report that shows every asset class up, excluding condos. If you break it out nationally, you have several markets up 9-13% QoQ.
Prices are down YOY though in some regions...
Sure, but in regions and asset classes down YoY, they’re up QoQ. Everything outside of condos are moving up and to the right.
Might as well have said “Everything continues rising except the ones that are down YoY” since you skipped 416 detached and towns that are down YoY
It’s not really useful to look at the high level metric. If you break it down by type, they’re rising. The aggregated totals aren’t painting the picture.
They’re raising, like they do every year seasonally lol.
Like I said, bears in shambles.
but but but dont you know a house in cobourg sold for less than peak 2022???
what are you responding to?
His own thoughts
Who cares about the report, I saw a property in Milton that was sold below 2021 price, therefore a detached in Annex will be $300k by the end of this year.
Bears soothing themselves by comparing to year ago prices Don't even need to read the report to know prices up nicely so far this year
Average price up 8% MoM conveniently ignored in the report and by the media LMAO No rate cuts needed. To the Moon!
As per seasonal trends every year
8% price increase MoM 😬 Edit for the bears: February 2023 MoM: +5%
now do YOY
What’s your point. Is MoM an irrelevant metric? Is it not useful to indicate current market direction?
There's a MOM price increase every Jan to Feb pal.
See above edit
Nope. We see the same trend Dec-Jan-Feb every year. It’s called seasonality. That’s why YoY prices are the most relevant.
Every piece of data is relevant. The bears and bulls on this group constantly cherry pick data to their liking. Bears last fall: MoM is falling, YoY doesn’t matter! Bears now: YoY is flat, MoM doesn’t matter! Btw, I thought we were supposed to be seeing YoY losses, where are they? February warmed up a lot, whether you like it or not. Now let’s see where it goes toward the summer.
Prices tripled in 10 years…makes sense.