Farid Muhtat Real Estate Agent

Toronto Regional Real Estate Board (TRREB) just shared their report for February 2023. According to their report, sales in the Greater Toronto Area for February were 47% lower than last year. Additionally, the number of new houses for sale also dropped by 40.9%. As a result, the average selling price stayed the same after going down in the spring and summer of last year. TRREB Chief Market Analyst, Jason Mercer, thinks that because there aren't many houses for sale but a lot of people want to buy, prices will go up in many parts of the market, especially for first-time buyers who are facing higher rental costs. Read full report here:https://www.trreb.ca/files/market-stats/market-watch/mw2302.pdf