TRREB's June Market Watch Released đ
Higher borrowing costs continued to impact home sales in June 2022. The average selling price was 5.3% above the June 2021 level at $1,146,254, but continued to trend lower every month.
While the number of transactions was down year-over-year, the number of new listings changed little over the same period. This has provided for greater balance in the market, resulting in a more moderate annual pace of price growth.
Despite the shorter-term impact of higher borrowing costs, housing demand will remain strong over the long term, given continued population growth, strong immigration inflows, returning post-secondary students, lack of housing supply and other factors.
đ Market Stats Quick Overview:
đ Total Sales: 6,474 âŹ41.4%
đ Avg Sold Price: $1,146,254 âŹ5.3%
đ Avg DOM: 15 days âŹ15.4%
đ New Listing: 16,347 âŹ1.0%
Source: @thereal_trreb
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