The Toronto Real Estate Board just released the statistics for mid November and the trend we are seeing is interesting. The Toronto market is seeing a slight decline in sales compared to this time last year. What's more interesting is that homes outside of the 416 area code are still seeing good appreciation giving indication that while the mortgage rule changes do have an effect it would appear that the double land transfer tax is really hurting real estate there.
The information is of course on a large scale as I do know certain pockets of Toronto are seeing tremendous activity howver compare that to the general positive health outside of Toronto and it would appear that home buyers are crossing the border for a better deal.
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