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The Toronto real estate market for 2024 presents conflicting projections. While the Toronto Regional Real Estate Board (TRREB) anticipates a buyer's market due to declining average home prices in Toronto and across Canada, alternative predictions differ. Some suggest the effects of this year's interest rate spikes will persist into 2024, followed by a gradual recovery and renewed buyer interest leading to an increase in pricing.

These varying perspectives indicate a potential shift to normalcy in 2024, with different outlooks on the trajectory of home prices throughout the year. There's an agreement that interest rate cuts in the latter half of the year may signal the conclusion of the ultra-low interest rate era, affecting market dynamics. However, specific forecasts vary, especially concerning Toronto, where predictions range from price decreases to a surge in prices by the end of 2024.

Despite conflicting viewpoints, most projections suggest fluctuations in the housing market during the year, potentially reaching or surpassing pre-pandemic peak levels in certain regions by the year's end. Factors like adjustments in interest rates and buyer behavior continue to play crucial roles in shaping these divergent forecasts.

Read the full article on: blogTO