Toronto home prices expected to rise again this year
Toronto had a shaky year in the housing market through 2018, but things are looking more stable through 2019.
This, according to the Toronto Real Estate Board (TREB), which is predicting that home prices will rise.
TREB is predicting that home prices in all categories will go up about four per cent, bringing the average selling price in the GTA to $820,000. It was about $787,195 in 2018, a bit on the lower side.
This increase will be fuelled by condo sales, whereas detached homes should remain pretty stable.
The number of sales should also increase, if everything goes according to TREB's predictions. The agency is expecting 83,000 sales to occur through their listing system, which would be an increase from 2018's 77,375.
As for renters, TREB didn't forget about you. The 2019 forecast shows that low vacancy problems will continue, and that supply will cause issues as it did in 2018.
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