2018 Fall Market Forecast
September 27, 2018
According to Sotheby’s International Realty Canada’s 2018 Fall Market Forecast just released, the top-tier real estate market in the Greater Toronto Area (GTA) is poised to rebound this fall as consumer confidence rallies. Apprehension following the introduction of the Ontario Fair Housing Plan in 2017 and the tightening of mortgage lending rules and rising rates earlier in 2018 have dissipated; pent up consumer demand coupled with renewed top-tier listing activity is expected to propel gains in sales, velocity and pricing across all housing segments to the end of 2018.
“Toronto’s top-tier real estate market is positioned for a turnaround this fall. Since the introduction of Ontario’s Fair Housing Plan in April 2017, the market has maintained ground in spite of rapid policy changes, as well as rising mortgage rates and tighter lending guidelines. Market psychology has now adjusted and we expect the fall market to be more active,” says Brad Henderson, President & CEO, Sotheby’s International Realty Canada.
Read the full 2018 Fall Market Forecast here.