Greater Toronto Area Condo Market Report September Q3 2017, Steve Moran, Remax
Market conditions remained tight in the condo market which resulted in the continuation of strong annual rates of price growth relative to other major market segments like detached homes.
The average condo selling price continued rising sharply ... up 22.7 per cent in the third quarter to $510,000 compared to the average selling price reported in the same quarter 2016.
Recently, Canada's banking regulator introduced new rules effective January 1, 2018, that extend the requirement for a mortgage stress test to all homebuyers.
Despite these new rules, the underlying factors for the housing market will remain strong. We have strong population growth, low interest rates, robust job growth and confident consumers.
Thanks for watching, I would be happy to help you with your real estate needs. I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com.
