Over 80 per cent of Toronto-area homes are selling below asking price
The Greater Toronto Area real estate market is in turmoil with a glut of homes on the market and houses across the region selling at shocking losses.
A new report from real estate listing site Wahi shows that the majority of neighbourhoods in and around Toronto are experiencing homes selling for below asking price, with underbidding on homes now the norm.
According to Wahi’s newly released July 2024 Market Pulse Report, bidding for homes in the GTA cooled for the fourth consecutive month in July, with Wahi noting the slowdown even persisted through the Bank of Canada’s second rate cut of the year.
