NOVEMBER 2023 UPDATE: NAVIGATING THE GTA & DURHAM REGION REAL ESTATE MARKET
Welcome back to our monthly real estate market update for the Greater Toronto Area (GTA) and Durham Region. November 2023 has been a noteworthy month, witnessing continued impacts of high borrowing costs and uncertain economic conditions on the housing market. Let's delve into the latest developments:
GTA Market Insights:
Sales Activity: November 2023 saw a decrease in home sales in the GTA, with REALTORS® reporting 4,236 sales through TRREB’s MLS® System – a 6 percent decline compared to November 2022. This downturn is primarily attributed to inflation and the impact of elevated borrowing costs on affordability.
New Listings: In contrast to the drop in…
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