Canada’s largest real estate board predicted a slower year ahead for Toronto’s housing market after it overheated in 2017 and sent home prices surging.
In a preview of its annual forecast, the Toronto Real Estate Board said it expects home sales this year to slip to somewhere between 85,000 and 95,0000 transactions, slightly lower than 2017 when there were 92,394 sales.
However, that dip in sales will come as the average selling price will creep higher, TREB said.
It forecast that the average home will sell for between $800,000 and $850,000 _ the same as TREB predicted for 2017. That year the average selling price reached $822,681.