The Toronto housing market has seen a collapse in sales volume as buyers retreat from one of Canada's most expensive housing markets. The average home sold price in the GTA was $1,089,428 for October 2022, representing a decrease of 6% year-over-year.Nov 16, 2022

The average price of a house is forecasted to drop by nearly 12 per cent in the Greater Toronto Area (GTA) next year. According to Re/Max Canada's housing market outlook for 2023, the GTA's currently balanced market is expected to continue next year.

While the housing market on a national scale has seen prices decline in 2022 amid rising interest rates, experts are noting that a sudden and abrupt housing market crash is unlikely, based on current market conditions.Dec 8, 2022

Buyer's market: The Dallas-Fort Worth housing market has shifted to conditions in which sellers tend to have to chase buyers, rather than the other way around, as has been the case since the housing market caught fire in 2020.

While the housing market on a national scale has seen prices decline in 2022 amid rising interest rates, experts are noting that a sudden and abrupt housing market crash is unlikely, based on current market conditions.Dec 8, 2022

The housing market is likely to lose value through 2024, but it's more of a market correction than a market crash. Because America has a housing shortage, demand is likely to keep home prices from descending into oblivion.Dec 2, 2022

Housing market 'like night and day' compared to last yearnn Toronto Realtor Nasma Ali says real estate has gone from a frenzy in 2021, to ice cold in 2022 as buyers wait on the sidelines for rates to stabilize, and for worries about a recession to subside.

When will the housing market crash? Actually, economists do not think it will. Housing economists point to five main reasons that the market will not crash anytime soon: low inventory, lack of new-construction housing, large amounts of new buyers, strict lending standards and a drop in foreclosures.Oct 14, 2022

Real Estate Housing Market Statistics 2022Overall RankingStateHousehold Income11California52Texas183New York74New Jersey1

What Caused Housing Meltdowns in the Past? A mixture of builder speculation, overbuilding, and risky mortgage lending practices caused the latest housing market meltdown in 2008.