Market Commentary February 2023
Featured Property - 93 Fairholt Road. Hamilton -SOLD
In Hamilton, for the second month in a row, prices trended up over the previous month. This may indicate that prices are starting to stabilize. This February, sales were over 22 per cent below last year. However, prices are still well above the under $600,000 price reported prior to the pandemic Read the full RAHB Report
“Demand at the lower end of the market is increasing as higher interest rates impact affordability and attainability. Buyers have more options than they did a year ago and are less likely to compete in unfavourable market conditions,” said Lou Piriano, RAHB President.
Toronto Housing Market Report. The average home sold price in the Greater Toronto Area (GTA) decreased 18% year-over-year to $1,095,617 for February 2023. Inventory shortage in the GTA housing market allowed a whopping 5.5% jump in average home prices month over month. Read the full TRREB Report
