Comments on: GTA home sales drop & new listings surge in June, first-time buyers await further rate cuts

By: David Davidson

David Davidson — Wed, 10 Jul 2024 16:11:47 +0000

In reply to Robert Ede. That would be good for Realtors. With over 70,000 Realtor members TREB and only sales 6200 sales in June 2024 I would suggest most Realtors must be praying for a change. Is this over population of Realtors good for the industry. Does it really take 70000 Realtors to service 6200 sales.

By: Robert Ede

Robert Ede — Wed, 10 Jul 2024 12:12:09 +0000

And the increase in sales now being experienced in July (vs July 2023)?

By: Tom Pileggi

Tom Pileggi — Wed, 10 Jul 2024 11:44:30 +0000

In reply to David Davidson. Interest cuts will help but will need to cut at least one percent . The greater issue is the Stress Test that’s needs to go as First Time Buyers are Not qualifying.

By: David Davidson

David Davidson — Tue, 09 Jul 2024 17:25:41 +0000

Based on the present housing stats will there be a significant decline in house prices? Can one explain how the average home buyer entering the real estate market at this time can possibly afford to buy an average priced home in Toronto based on a price of approximately $1,300,000? How much will house prices decline in Toronto from today’s average to make sense?

By: David Davidson

David Davidson — Tue, 09 Jul 2024 17:16:03 +0000

I think it will take more than a small rate cut to excite the market.