The Toronto housing sector is slated for a more expensive, more competitive spring market with an unprecedented scarcity of supply, according to industry players speaking with the National Post.
“We’ve been in a tornado market since about late May 2020 and it hasn’t slowed down,” said Lauren Haw, CEO of fintech brokerage Zoocasa. “What we truly need in the GTA, and in Canada, is housing supply. We do not have enough homes and I don’t know where this insatiable demand is going to go.”
Data from the Canadian Real Estate Association showed that the number of new listings nationwide fell by 11% month-over-month in January, with the GTA accounting for more than half of the national decline. On average, the Canadian housing market only had 1.6 months of inventory as of the end of January. # SANDI HALPERN # SOLD # LEASED # HOT REAL ESTATE MARKET
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