In Toronot, Ontario, July 6, 2023 - it was reported that 7,481 sales through MLS system representing 16.5% increase compared to June 2022 and dropped by about 17% compared to May 2023. The number of listings is 15,865, down by 3% on a year-over-year basis.

“The demand for ownership housing is stronger than last year, despite higher borrowing costs. With this said, home sales were hampered last month by uncertainty surrounding the Bank of Canada’s outlook on inflation and interest rates. Furthermore, a persistent lack of inventory likely sidelined some willing buyers because they couldn't find a home meeting their needs. Simply put, you can't buy what is not available,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron

The average selling price was up by 3.2 per cent to $1,182,120, the first drop since January 2023, decreased by 1.2% comparing to May due to the impact of the rate hike again in June.

The average selling price firstly fell during the first half year.

The June average selling prices of low-rise segments in the following cities are almost higher than the same period of 2022 except Mississauga.

• Raise Interest Rate 25 base points in July

  Bank of Canada raise interest rate to 5% on July 12

• Canada desperately needs the housing investors - Financial Post released on July 3, 2023.

  "housing investors are critical for the health and growth of housing stock. For one thing, large-scale housing developments may not be possible without them because they provide the risk capital for the prolonged period when housing is being built."

• Rental.ca Market Report June 2023

  The monthly rent for one bedroom has reached at $2572 in Toronto. Average asking rents in Canada hit a record high of $2,042 in June.

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