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Homes stand in this aerial photograph taken above Toronto, Ontario, Canada, on Monday, Oct. 2, 2017. Toronto housing prices fell for a fourth month in September as sales remained sluggish, particularly in the detached-home segment that has borne the brunt of the correction in Canada’s biggest city. Photographer: James MacDonald/Bloomberg , Bloomberg The average home price in the Greater Toronto Area broke through $1 million last month as low interest rates and the work-from-home trend fueled a surge in buying activity amid what the local real estate board is calling “historic demand.” It’s not unlike the stunning growth that Vancouver’s real estate board reported yesterday, where sales in February were 43 per cent higher than the 10-year average. And it comes the same week that outgoing CMHC CEO Evan Siddall cleared the deck for his successor by owning up to the agency’s call for a price correction that’s failed to materialize. We’ll dig into all the dynamics at play shortly after 8am with the chief market analyst from Toronto’s real estate board. We’ll also get perspective from the head of an alternative mortgage lender, when First National Financial CEO Stephen Smith joins Bloomberg Markets at 2:20 p.m. fresh off […]
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