What You Need To Know About the Toronto Housing Market
Following a brief pause in the midst of the 2008 financial crisis, the Toronto housing market — buoyed by a combination of low mortgage rates, low inventory, strong immigration, and suspected foreign speculation — continued a long run of precipitous growth. For perspective, if you bought a home in the city of Toronto in 2010, the value of that same home today has increased by at least 150%! A big part of this long-term gain has come most recently as the average sale price of a home in Toronto has increased by a staggering 40% since May 2020.