Monthly Archives: May 2018

Month: May 2018 Toronto home sales decline, could sign to a return to normal market

  Toronto real estate market has seen the effects of a confluence of policies: Ontario’s Fair Housing Policy, including a foreign buyers’ tax aimed at cooling the market; a new mortgage stress test targeted at protecting Canadians from dangerously high household debt levels; and the Bank of Canada’s moves to increase interest rates.   The Ontario government needed to act to cool the over-heated market when it peaked at more than 30 per cent year-over-year price growth last April, 2017..   If the government’s policy target was to increase affordability of buyers, that has not happened yet. The short supply

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