GTA housing inventory TURNED a corner! Again Inventory building up!

GTA housing inventory TURNED a corner! Again Inventory building up!<!–

View in browser for full experience (Give it a few seconds for the GIF above to load). Mr. MARVELLOUS Marvelloushomes Team Hey folks! A couple reasons for a sudden turn around in the housing market: 1) John Pasalis of Realosophy (a Toronto Real Estate Statistics company) and whom i follow on twitter, tweeted 3 days ago (June 19th) that the Housing market turned a corner AGAIN!   Inventory is beginning to build up since the announcement of a 25 bps (basis point) increase in short term overnight lending rates from the Bank of Canada (BOC) on Wednesday June 7th. Here is the tweet! twitter.com/johnpasalis/status/1670782756190552065?s=43 2) The BoC reason for raising rates was because in Canada Housing prices are included in the CPI numbers and are heating up those numbers from Feb-May 2023 this year Average housing prices went up! 3) My showings at a downtown 1 bedroom condo completely changed directions this week to the downside! As All of a sudden GTA house and condo showings dropped off a cliff this week due to the above incidents! BTW: i’m having an Offer presentation tonight on this 1 + 1 bedroom condo around 700 sq ft if there’s interest! Let me know! thanks And the hamster wheel continues! Happy Summer! Mr. Marvellous View Page