Monthly Market Update For May 2022 | Toronto Real Estate Market

Monthly Market Update For May 2022 | Toronto Real Estate Market

Greater Toronto Area (GTA) housing market conditions continued to evolve in response to higher borrowing costs. Similar to April results, May 2022 sales were down on a monthly and annual basis.

Although the average price was up by 9.4% compared to May 2021, prices were down by 3.3% compared to April 2022 and down by 9.1% since February 2022. It is evident that the rising interest rates are holding buyers and investors, restoring the balance between supply and demand.

Ishtiaq Ahmed Broker
Century 21 Innovative Realty Inc.
PH: 416-999-6975
http://ishtiak.com

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