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7 stats that explain Toronto’s January home sales plunge.

Original article via BuzzBuzzHome.

It’s official — January was a pretty icy month for the Toronto real estate market. Sales were down 22 per cent year-over-year, from 5,155 transactions in January 2017 to 4,019 last month.

According to the Toronto Real Estate Board, the slump is a result of new mortgage rules and an interest rate hike.

“TREB released its outlook for 2018 on January 30th. The outlook pointed to a slower start to 2018, especially compared to the record-setting pace experienced a year ago,” writes TREB president Tim Syrianos, in a recent statement.

 

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