#MARKETSNAPSHOT

MAY 2022 MARKET UPDATE

MUCH OF THE TREND SEEN IN APRIL CONTINUED INTO MAY, BALANCING OUT CERTAIN MARKETS.

 THE GREATER TORONTO AREA (GTA) HOUSING MARKET CONTINUED ITS ADJUSTMENT TO HIGHER BORROWING COSTS, WITH THE NUMBER OF TRANSACTIONS DOWN ON A MONTHLY AND ANNUAL BASIS.??

 WHILE AVG. THE SALES PRICE IS 9.4% YEAR OVER YEAR, AND THE NUMBER OF HOME SALES IS   38.8% COMPARED TO MAY 2021.

 AS HAS BEEN THE CASE WITH PREVIOUS RATE TIGHTENING CYCLES, SOME HOME BUYERS HAVE MOVED TO THE SIDELINES TO DETERMINE HOW THEY WILL REPOSITION THEMSELVES IN THE MARKETPLACE GIVEN THE HIGHER RATE ENVIRONMENT AND RELATED IMPACT ON AFFORDABILITY.

WHETHER YOU ARE CONSIDERING BUYING OR SELLING IN THIS MARKET, A STRATEGIC ACTION PLAN IS NECESSARY FOR SUCCESS, AND THAT'S WHERE WE DELIVER RESULTS.

#FHKEXPERIENCE #MARKETUPDATE #MAYHOUSINGMARKET #TORONTOREALESTATE #MILTONREALESTATE