The average selling price for homes across the Toronto region reached a record $1,097,565. That is 22 per cent higher than March 2020. More and more experts are predicting a correction (or crash in prices). Some home buyers can not get mortages (Bonds) as the selling prices of homes are more than the appraised value. Immigrants should be carefull before buying property at the moment.
Source: Globe and Mail, 6 April 2021 https://www.theglobeandmail.com/business/article-toronto-march-home-sales-blow-past-2016-record/ (For Subscribers only)