Ontario Real Estate Market Shifts into Adjustment Phase
Posted by Paul Ambler on
In the aftermath of the coronavirus pandemic, homeowners in the Ontario real estate market witnessed incredible gains. After a modest slowdown in the first two months of the global health crisis, many aspects of the Ontario housing sector – particularly detached and semi-detached homes – soared and recorded all-time highs, from sales activity to price growth.
But has an adjustment phase commenced? In fact, the provincial housing sector is already in one.
The Ontario housing industry has been witnessing a slowdown, despite an environment of tight inventory, sky-high prices, and changes to the mortgage stress test. Conditions peaked at the end of 2021 and have been facing a downward trend ever since, with average prices falling from roughly $1.1…
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