Don’t let the season’s longer days go to waste, make the most out of the weather and head out on some local adventures. June is Pride Month, and the best resource for what’s happening is the Pride Toronto website.
The Toronto Real Estate Board has released the numbers for May. We are seeing the same trends we’ve seen over the past few months; more listings on the market than this time last year, and fewer sales. Prices are down slightly compared to last year, with the exception of townhouses. There are definitely opportunities for buyers, especially for those who need more space!
As predicted, the Bank of Canada has reduced the key interest rate by .25%. I don't think this will have an immediate impact on the market, but it should give confidence to buyers that interest rates have peaked and are on the way back down, though we won't see the rates go as low as they were in 2020 and 2021.