2023 Market Outlook & 2022 Year in Review
2023 Market outlook
Higher immigration levels and increased borrowing costs are two forces that will impact the housing market in 2023. TRREB is forecasting:
• A total of 70,000 sales. This is below the 2022 result, but we will see marked improvement in the second half of 2023.
• The average selling price will reach $1,140,000 for all home types combined. This is up compared to the average price in the second half of 2022, but down by 4% when compared to 2022 as a whole.
2022 Year in Review
The housing market started off strong in 2022, but GTA home sales trended lower in the spring and summer. In 2022, the GTA housing market had:
• 75,140 home sales.
• 152,873 new listings.
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