The GTA housing market appears to have turned a corner after more than a year of price declines.
The GTA housing market appears to have turned a corner after more than a year of price declines but a likely increase in sellers over the coming months should "keep any price appreciation relatively contained," a The bank’s home price index for the GTA rose by 2.4 per cent in April, marking the second consecutive month of gains.
The bank said that as a result “demand-supply conditions tightened for a fifth-straight month and now look as firm as they were before the market’s downturn.” “Sellers hold the key to the market’s trajectory to a large extent. Much will depend on the degree to which they make their way back in the game and reshape inventories. Our view is that a growing number of them will indeed list their home for sale now that property values have turned a corner. And this should keep any price appreciation relatively contained,” the report notes.
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