11 September 2018

“Greater Toronto Area resales were up by 22% cumulatively in June and July (on a seasonally-adjusted basis), rising from the decade-low levels,”- he noted. “Monthly activity kept growing last month, although at a much lower pace of 2%”.

While Hogue expects prices to keep rising, he still predicts quite a moderate pace without repeating the last spring’s hot market.

“In our opinion, higher interest rates, the stress test and the affordability issue will still restrain the pace in the nearest future”, – he says. “We believe there will be low single-digit annual gains, and we don’t see any potential factors which could change the current balance between demand and supply.”