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Housing sales cool off in T.O.

Consumer homebuying intentions in the Toronto area have dropped sharplythis year, according to Canada Mortgage and Housing Corp.

Consumer homebuying intentions in the Toronto area have dropped sharply this year, according to Canada Mortgage and Housing Corp.


About 6 per cent of households intend to buy a home this year, down from 9 per cent in 2007.


Among potential first-time buyers, who have been a key driver in Toronto, buying intentions have also cooled — 40 per cent want to buy this year, compared to 47 per cent last year.


This year has seen four consecutive monthly decreases as the market cools.

 
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