A new report from the Municipal Property Assessment Corp. (MPAC) suggests that the Ontario housing market is undergoing a significant rebalancing. According to the data, homes valued under $500,000 now account for nearly 24% of the market, a notable climb from 17% in 2022. This shift is primarily driven by the condominium sector, where 46% of units are now valued below the $500,000 threshold—a massive jump from just 24% four years ago.
While this trend offers a glimmer of hope for buyers previously priced out of the Greater Toronto Area, the reality remains complex: the share of affordable homes is still nowhere near the 67% seen a decade ago. Furthermore, detached and semi-detached homes remain increasingly out of reach compared to 2016 levels. For a deeper dive into these municipal trends and to see how your specific region compares, read the full report at CTV News.
Source: Read the original article
