The cold-weather slowdown continues—now that the snow has arrived, both buyers and sellers alike are stepping back from the market for the holiday interim.
Detached home sales, which have experienced healthy growth over the last few months, plunged 47 per cent from October, and 19 per cent year-over-year, with semi-detached experiencing a similar slowdown, falling 54 per cent month-over-month and 16 per cent from the same time in 2017.
Demand for Toronto condos has also slowed, with activity falling 38 and 16 per cent, respectively. Only townhouses experienced an uptick, jumping 25 per cent from October, and 67 per cent from last year—however, as inventory to be on the low end, any movement can result in more dramatic swings than for other home types.
