clawfirst wrote:paulster wrote:akiberg wrote:do tell
Selling price in Toronto dropped 18.whatever% since April. Currently up only %5 over last year. Next month will be worse.
This is also data from TREB, who counts accepted offers as sales. A lot of people are right now seeing buyers unable/unwilling to close on properties. The listing vs. sales numbers are also way out of whack - nobody is buying anymore.
Anecdotally the dude across the street from me sold his house for $1.1M back in April. Few weeks ago was the closing date, buyers backed out last minute. He's re-listed his home for ~$890k but nobody is buying. No offers, open houses in the area are frequently without any traffic. Shit's drying up - and we could be about to fall off the cliff.
Do i victory lap now or when the interest rates climb again
Do one when your neighbor loses his job!