Toronto Housing Market Downturn Will Be Shortlived CMHC Says

Toronto Housing Market Downturn Will Be Shortlived CMHC Says

The federal housing agency says the current downturn in Toronto's housing market is expected to be short-lived.  Canada Mortgage and Housing Corp. (CMHC) says Toronto property prices, which have fallen over the last couple of months, should pick up again as demand bounces back.

The Ontario government introduced measures in the spring, including a 15 percent tax on foreign buyers, to cool down a market that many regarded as overheating.  CMHC says similar policy changes introduced in Vancouver last year reduced the number of foreign buyers in that city, but Greater Vancouver's housing market has since pushed back up.

In its latest market assessment released today, CMHC kept its overall risk rating for the national housing market at strong.  The report, which is based on data from the first three months of this year, precedes the Ontario government housing rules introduced in the spring.


Maurice King Headshot
Author:
Phone: 905-409-6730
Dated: September 27th 2017
Views: 79
About Maurice: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Q4 2017 Recap A Strong Canadian Economy And Steady Real Estate Market - Strong GDP, wage, and employment
Wireless Internet Connection Keep It Secure - With all of the wireless devices
Mortgage Rules Updated Again - Last month the Office of the
Renovating Are You Covered During And After - Before starting a renovation meet

Our Bloggers

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

King Home Team
91 Columbus Road East
Brooklin, ON
289-807-1423
888-317-7238