Experts say the Toronto housing market will experience a dramatic shift in 2023 Toronto TorontoRealEstate RealEstate
in recent months, predicting an uptick in home sales, prices, and competition among Greater Toronto Area home buyers in the second half of the year."The first half will feel similar to the fall of 2022 due to the lingering effects of higher borrowing costs and related economic uncertainty. However, recent polling by Ipsos suggests buying intentions are edging up."
Projections of 70,000 home sales in 2023 would put the year well below the 2022 result, but TRREB expects to see"marked improvement in the second half of the year." TRREB also considered transportation infrastructure research from CANCEA and data from the Pembina Institute on the relationship between electric vehicle trends and real estate in its market outlook.
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