York Region in the GTA saw a 104-per cent increase in buying activity in the second quarter of 2023 with 2,328 sales compared to 1,143 in 2022 during the same period. In Langley, B.C., sales also rose in the quarter, with a 7.9-per cent increase amounting to 574 homes sold compared to 532 a year prior.“Buyers had become acclimatized to the higher interest rate environment that we’ve experienced through this past six months.
The report focused on “hot pockets,” looking at both downtown cores and city suburban areas. In downtown Toronto, detached homes, while desired, remain the most expensive. But outside city cores prices tend to be lower, keeping it popular among buyers. “As such, the region continues to experience solid demand, as evidenced by the uptick of nearly 18 per cent in overall housing sales in June .”The impact of higher ratesStory continues below advertisement
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