Revisiting the stress test as home sales show hints of rebound

Toronto

2022/09/20

Higher borrowing costs affect whether Canadians can buy homes, and hit existing homeowners nearing mortgage renewal. Aug Toronto home sales ↓ 34.25 yearly, while the number of homes sold in Aug ↑ 5,627 from 4,912 in July. Home Price Index ↑ 8.9% yearly, while the avg selling price for all sales only ↑ 0.9%, to $1.08M from $1.07M.