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Should the Toronto real estate market brace for a cooler 2018? Industry watchers have their say.

Original article via BuzzBuzzHome.

Sure, most Canadian housing markets are predicted to see a cooler first quarter in 2018, but what about always-in-demand Toronto? As one of the country’s hottest real estate markets, it often doesn’t follow national trends.

According to some industry experts, it is likely that the Toronto market will cool over the next few months, as it adjusts to new mortgage rules and an interest rate hike. In the first two weeks of January alone, condo sales dropped 21 per cent year-over-year, while detached home sales fell by 20 per cent.

“We did anticipate that the GTA market would be off to a slower start in 2018,” Zoocasa managing editor Penelope Graham told BuzzBuzzNews.

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