Cynthia Yan's video: Toronto Real Estate Market Update July 2022

Toronto Real Estate Market Update July 2022 - There were 6,474 home sales reported in June 2022, down by 41.4% year-over year - There were 16,093 active listings at the end of June, up 42.5% year-over-year - The average selling price for all home types was $1,146,254, a 5.3% increase year-over-year - Home prices continue to decrease month-to-month - Once the home prices stabilize, some buyers will re-enter the market, despite the higher borrowing costs - With the low unemployment rate, many households aren’t in a position where they need to sell their home, causing market conditions to tighten and providing support for home prices - Despite the shorter-term impact of higher borrowing costs, housing demand in our region will remain strong over the long-term, especially with the increasing immigration rate. For a Free Home Evaluation, hassle free buyer consultation, contact Cynthia Yan at (416) 884-1288, or visit us online at www.cynthiayan.com Website: www.cynthiayan.com Youtube: https://www.youtube.com/channel/UC1IOVpiwGZ6aIJwQrZEeN6Q Facebook: https://www.facebook.com/cynthianyc Instagram: https://www.instagram.com/cynthiayan_elite/ Linked In: https://www.linkedin.com/in/cynthia-yan-01a10b40/