In Jan '23, Toronto real estate market saw stability from the previous month, but a significant drop from last year with 16.4% decrease in average home prices and 44.6% decline in sales volume. BoC suggested it may hold interest rates depending on the economic outlook.
More affordable home types such as condos and townhomes appeared to hold steady with smaller price drops compared to last year. A sign of stability in a market affected by interest rates and inflation.