Toronto Housing Prospects Show Signs of Steady Improvement

The Greater Toronto Area housing market remains sluggish, with condo sales low due to a preconstruction crisis, rising interest rates, appraisal issues, and reduced immigration targets. Toronto's economic diversification offers some resilience against trade war impacts. Home prices have dropped 5.2% year-over-year, but remain high, deterring first-time buyers. Rents are declining due to increased condo vacancies and ongoing construction, likely continuing downward pressure on rental costs.