Better_Call_Adam

🔷Greater Toronto Area (GTA) housing market conditions tightened in March 2023. Sales accounted for an increased share of listings in comparison to March 2022, suggesting that competition between buyers is on the rise.

🔷GTA REALTORS® reported 6,896 sales through TRREB’s MLS® System in March 2023 – down 36.5 percent compared to March 2022. On a month-over-month basis, actual and seasonally adjusted sales were up. New listings were also down on a year-over-year basis, but by a much greater annual rate. This points to tighter market conditions compared to last year.
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🔷The Bank of Canada Maintains Its Key Interest Rate

The Bank of Canada is maintaining its benchmark interest rate for the first time in a year, maintaining its wait-and-see stance even as its American counterpart pursues a more aggressive course.

The central bank announced on Wednesday that it has decided to keep its key rate at 4.5%.

The governing council is ready to raise the policy rate further if necessary to get back to the two percent inflation target.

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