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Here Is The Data From Toronto Real Estate Board Month To Month Sales 2022, Average Resale Home Price Monthly with Three Previous Years for Comparison. Now, Show Me How Market Is Crashed. Where As Data Until June 2022 Sales Still Shows That The June 2022 Prices Are Still Higher Than Previous 3 Consecutive Years.
Yes, It's Not Crazy, Up Like January, February, March 2022 Which Was Not Realistic Anyways. This Yearly Consistent Growth On Yearly Basis Shows Me Very Clear That Housing Market Is Very Healthy And Strong And Is Not Going Anywhere Even If Bank Of Canada Increases (100 Beeps) 1% Before December 2022.
It Can Slow Down A Bit Which Will Make A Very Strong Base For Market To Come Back Very Very Strong; As Next Year 2023 When Hungry Banks Their Quota Or Target Are Not Met Then Somewhere Around Spring Time They Will Start Coming Up With Better Mortgage Products Which Will be Prime Minus, Longer Amortization, Soften Rules. That Is The "U" Turn For The Market As After Increasing So Much Interest Rates, Bank Of Canada Also Runs Out On Increases.
I Personally Believe After Spring 2023 Real Estate Market Will Be A Healthy And Strong Market, Regardless Of Russia Ukraine Conflict Or China US Conflict, Ontario Will Have Strong Market Specially GTA And Surroundings, Increasing New Immigrants Will Be A Tip On The Iceberg.
These Are My Personal Views On Real Estate Market After Studying The Data, RE/MAX, TREB Or Any Other Real Estate Organization, Financial Institution Is Neither Responsible Nor Beneficial Of My Personal Views.