top of page
< Back

Educational Materials/Courses

Save this article  > 

The Latest In Mortgage News: GTA Home Prices Down 22% From February

Steve Huebl
Publication date:
May 2, 2022
Article Summary: 

The Greater Toronto Area's housing market has experienced significant declines in the prices of certain housing segments, such as a 22.6% decline in freehold townhouses, a 13.5% drop in semi-detached prices, a 12.1% fall in detached homes, and a 6.8% decrease in condos from February to early April. Meanwhile, the number of active listings has increased by 76%, while the Median Aggregated Days on Market has more than doubled since February. The recently passed "Cooling-Off" bill in British Columbia aims to protect homebuyers by allowing them a period to back out of their home purchase without penalty, but the bill lacks logistical details. A new survey shows that six in 10 Canadian non-owners have given up on owning a home, while 67% of Canadians and 76% of non-owners believe that owning a home is only for the rich. Inflation has also increased debt concerns among Canadians. Finally, former Bank of Canada Governor David Dodge recommends a rapid policy rate hike to prevent inflation expectations from getting out of control.


Greater Toronto Area, Housing market, Freehold townhouses, Semi-detached, Detached homes, Condos, Active listings, Median Aggregated Days on Market, Cooling-Off bill, British Columbia, Homebuyers, Survey, Canadian non-owners, Homeownership, Inflation, Debt concerns, Bank of Canada,Policy, rate hike, David Dodge

Source Citation: 
Steve Huebl
The Latest In Mortgage News: GTA Home Prices Down 22% From February
May 2, 2022
Did you find this article useful? 
Your feedback is important not only to us, but to all the other key players in the condo industry.  Help us by letting us know if this article is relevant and useful.  This will help us prioritize articles that provide helpful guidance to other key players like you. 

Please login to use this feature.

bottom of page