{"id":25559,"date":"2025-01-13T08:25:41","date_gmt":"2025-01-13T08:25:41","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/2024s-gta-real-estate-a-buyers-market-with-a-catch\/"},"modified":"2025-01-13T08:25:41","modified_gmt":"2025-01-13T08:25:41","slug":"2024s-gta-real-estate-a-buyers-market-with-a-catch","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=25559","title":{"rendered":"2024&#8217;s GTA real estate\u2014a buyer\u2019s market with a catch"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight:400;\">As we reflect on 2024\u2019s market, I can\u2019t help but draw parallels to another pivotal moment in Toronto\u2019s real estate history: the dramatic correction of the early 1990s. Back then, Toronto experienced what many considered unthinkable: a six-year decline that saw average home prices plummet by 28 per cent from their 1989 peak. The catalyst? A perfect storm of rising interest rates, recession and overbuilding that burst what was then considered Toronto\u2019s first major housing bubble.\u00a0<\/span><\/p>\n<p><span style=\"font-weight:400;\">That correction fundamentally reshaped the market. Properties that had been snapped up for $500,000 in 1989 were selling for $350,000 by 1996. Developers went bankrupt, leaving half-finished condominiums dotting the skyline. The term \u201cnegative equity\u201d entered the everyday vocabulary of Toronto homeowners, as thousands found themselves underwater on their mortgages.<\/span><\/p>\n<p><span style=\"font-weight:400;\">But if you look back on that period, the market appeared almost \u201cflat\u201d from about 1991 to 1996 after the steep drop. A similar trend can be observed in the chart above, which shows house prices since interest rate hikes started in 2022.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><img fetchpriority=\"high\" alt=\"\" width=\"931\" height=\"533\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 931px, 100vw\" srcset=\"https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-3.png 931w, https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-3-480x275.png 480w\" src=\"https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-3.png\" class=\"alignnone size-full wp-image-36635 nitro-lazy\" decoding=\"async\" nitro-lazy-empty=\"\" id=\"ODI2OjQ1Nw==-1\"\/><\/p>\n<p>\u00a0<\/p>\n<h2><strong>Where we\u2019re at now<\/strong><\/h2>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight:400;\">Today\u2019s market might echo some aspects of that tumultuous period, with falling prices brought on by once-rising interest rates, perpetual affordability concerns, an election, changes to capital gains structure and more economic uncertainty, especially around unemployment.<\/span><\/p>\n<p><span style=\"font-weight:400;\">So, it may come as a surprise to you that the market was warming up a bit in November (more sales, NOT higher prices). The reason we\u2019re seeing more people buying houses in the Greater Toronto Area (GTA) is affordability.<\/span><\/p>\n<p><img loading=\"lazy\" alt=\"\" width=\"940\" height=\"639\" sizes=\"auto, (min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 940px, 100vw\" srcset=\"https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-2.png 940w, https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-2-480x326.png 480w\" src=\"https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-2.png\" class=\"alignnone size-full wp-image-36634 nitro-lazy\" decoding=\"async\" nitro-lazy-empty=\"\" id=\"ODMyOjQzNg==-1\"\/><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight:400;\">Affordability is improving in Canadian real estate, and the GTA is at the forefront. In fact, housing affordability in Toronto has corrected more than any other major city in Canada according to the National Bank\u2019s Q3 Housing Affordability Monitor.<\/span><\/p>\n<p><span style=\"font-weight:400;\">A correction means that mortgage payment costs are decreasing as a percentage of household income. When people can afford to buy houses, they do. This phenomenon gave 2024 a relatively strong market in October and November, but December was slowed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight:400;\">The biggest support for the improvement in affordability could also be its greatest risk factor. RBC observed that growing household income significantly helped improve affordability in 2024\u2019s third quarter. The challenge is the few key trends that could slow wage growth in 2025:<\/span><\/p>\n<ol>\n<li style=\"font-weight:400;\" aria-level=\"1\"><span style=\"font-weight:400;\">The unemployment rate is rising<\/span><\/li>\n<li style=\"font-weight:400;\" aria-level=\"1\"><span style=\"font-weight:400;\">The majority of job growth has come from government hiring<\/span><\/li>\n<li style=\"font-weight:400;\" aria-level=\"1\"><span style=\"font-weight:400;\">The likely winner of our election is committed to reducing the number of government employees<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight:400;\">So, future improvements to housing affordability may come from a reduction in interest rates or house prices. In a healthy market, Toronto\u2019s housing costs 40-50 per cent of median household income, and I expect it will get back there in time.<\/span><\/p>\n<p><img loading=\"lazy\" alt=\"\" width=\"783\" height=\"499\" sizes=\"auto, (min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 783px, 100vw\" srcset=\"https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-1.png 783w, https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-1-480x306.png 480w\" src=\"https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-1.png\" class=\"alignnone size-full wp-image-36633 nitro-lazy\" decoding=\"async\" nitro-lazy-empty=\"\" id=\"ODQzOjQzNg==-1\"\/><\/p>\n<p>\u00a0<\/p>\n<h2><b>GTA 2024: A buyer\u2019s market with caveats<\/b><\/h2>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight:400;\">For years, the GTA housing market felt like a relentless bidding ground, with escalating prices and scarce supply fueling a sense of urgency. However, 2024\u2019s home sales reached 67,610\u2014up 2.6 per cent from 65,877 in 2023\u2014while new listings surged by 16.4 per cent to 166,121. On paper, this provided buyers with a clear advantage and more choice than they\u2019d seen in years, hinting at a possible market correction.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Yet beneath the surface, the so-called \u201cbuyer\u2019s market\u201d has been far from a bargain. Despite the uptick in listings, the average selling price dipped by less than 1.0 per cent year-over-year, settling at $1,117,600 compared to $1,126,263 in 2023. Detached homes continued to command lofty prices, while condominiums \u2014though subject to more notable price declines\u2014still struggled to attract cost-conscious first-time buyers, many of whom stayed on the sidelines in hopes of greater interest rate relief down the road.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Monthly, there were some significant data points. Sales decreased by 1.8 per cent, while new listings and active listings substantially increased by 20.2 and 48.5 per cent, respectively. The average price saw a slight decrease of 1.6 per cent compared to December 2023, and days on market increased by 12-15 per cent.<\/span><\/p>\n<p><span style=\"font-weight:400;\">The 16.4 per cent jump in new listings might suggest an easing of supply constraints, yet many sellers appeared hesitant to lower asking prices. Although the balanced supply-to-demand ratio theoretically favoured buyers, the minimal price drop signals seller resistance to resetting expectations. The gap between buyer hopes and market realities remained stubbornly wide.<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><b>Condominiums: A sector to watch in 2025<\/b><\/h2>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight:400;\">Of all the sectors in the GTA real estate market, the condominium sector is the one I\u2019m really keeping my eye on. With more new condominium listings than ever before and record new supply added to the market in 2024, it shows no signs of letting up.<\/span><\/p>\n<p><span style=\"font-weight:400;\">There are a few reasons for this. First, the Bank of Canada\u2019s interest rate hikes made it more expensive for people to buy homes, causing some first-time buyers and investors to choose condominiums as a more affordable option. Second, the construction of new condominiums has been booming, which has added to supply on the market.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Despite the supply increase, condominium prices have not yet fallen as much as expected, probably not because demand remains strong but more because sellers have decided to lose money slowly rather than quickly. What I mean by this is the majority of new condominiums have been considered \u201ccash flow negative\u201d in the current market by Benjamin Tal and Urbanation. Based on my analysis, the majority are also \u201cequity negative.\u201d\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" alt=\"\" width=\"1499\" height=\"582\" sizes=\"auto, (min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1499px, 100vw\" srcset=\"https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed.jpg 1499w, https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-980x381.jpg 980w, https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-480x186.jpg 480w\" src=\"https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed.jpg\" class=\"alignnone wp-image-36636 nitro-lazy\" decoding=\"async\" nitro-lazy-empty=\"\" id=\"ODU3OjU3MA==-1\"\/><\/p>\n<p><i><span style=\"font-weight:400;\">Source: Valery.ca Special Report<\/span><\/i><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight:400;\">So, many sellers have set a floor price\u2014that is, a minimum price they\u2019d accept. If they don\u2019t get that price, they decide to rent the unit out rather than sell it at a loss, allowing them to spread out the burden across monthly mortgage payments rather than absorbing it in one shot.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" alt=\"\" width=\"1112\" height=\"630\" sizes=\"auto, (min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1112px, 100vw\" srcset=\"https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed.png 1112w, https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-980x555.png 980w, https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed-480x272.png 480w\" src=\"https:\/\/cdn-ilanldl.nitrocdn.com\/EiosVtdLfUyyvdCsQBWiVyJZWBTKOEZZ\/assets\/images\/optimized\/rev-420e600\/realestatemagazine.ca\/wp-content\/uploads\/2025\/01\/unnamed.png\" class=\"alignnone size-full wp-image-36637 nitro-lazy\" decoding=\"async\" nitro-lazy-empty=\"\" id=\"ODYxOjU4MA==-1\"\/><\/p>\n<p><i><span style=\"font-weight:400;\">Source: Robert Marsiglio, Realtor\u00a0<\/span><\/i><\/p>\n<p>\u00a0<\/p>\n<h2><b>2025 predictions: Hope or more of the same?<\/b><\/h2>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight:400;\">Looking ahead, optimism for 2025 hinges on continued interest rate cuts and stable or marginally lower home prices. TRREB President Elechia Barry-Sproule expects improved market conditions over the next year, but the GTA market has a remarkable knack for bouncing back swiftly. Prospective buyers banking on continued softness may find themselves outpaced if the market rebounds.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Meanwhile, structural problems remain\u2014congestion, supply constraints and stubbornly high prices. TRREB\u2019s chief market analyst, Jason Mercer, emphasized that government policy reforms must address these core issues. Otherwise, the GTA\u2019s real estate rollercoaster will continue with fleeting windows of affordability that close as quickly as they appear.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Far from a buyer\u2019s utopia, 2024 felt more like an intermission. Yes, deals were occasionally on the table, but \u201caffordable\u201d remained a moving target\u2014especially for those entering the market for the first time. The question persists: as we edge into 2025, will this pause evolve into genuine relief, or is it merely the calm before the next wave of price hikes? Only time\u2014and possibly more interest rate adjustments\u2014will tell.<\/span><\/p>\n<p>\u00a0<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>As we reflect on 2024\u2019s market, I can\u2019t help but draw parallels to another pivotal moment in Toronto\u2019s real estate history: the dramatic correction of the early 1990s. Back then, Toronto experienced what many considered unthinkable: a six-year decline that saw average home prices plummet by 28 per cent from their 1989 peak. The catalyst? [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[14388,14422,2468,17387,17386,11209,482],"dealstore":[],"offerexpiration":[],"class_list":["post-25559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-2024s","tag-buyers","tag-catch","tag-estatea","tag-gta","tag-market","tag-real"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>2024&#039;s GTA real estate\u2014a buyer\u2019s market with a catch - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=25559\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2024&#039;s GTA real estate\u2014a buyer\u2019s market with a catch - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"As we reflect on 2024\u2019s market, I can\u2019t help but draw parallels to another pivotal moment in Toronto\u2019s real estate history: the dramatic correction of the early 1990s. Back then, Toronto experienced what many considered unthinkable: a six-year decline that saw average home prices plummet by 28 per cent from their 1989 peak. The catalyst? [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=25559\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-13T08:25:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/01\/New-Banner-Size-1-min-6.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=25559#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=25559\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"2024&#8217;s GTA real estate\u2014a buyer\u2019s market with a catch\",\"datePublished\":\"2025-01-13T08:25:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=25559\"},\"wordCount\":1123,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=25559#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/01\/New-Banner-Size-1-min-6.png\",\"keywords\":[\"2024s\",\"Buyers\",\"Catch\",\"estatea\",\"GTA\",\"Market\",\"Real\"],\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=25559#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=25559\",\"url\":\"https:\/\/fivemor.com\/?p=25559\",\"name\":\"2024's GTA real estate\u2014a buyer\u2019s market with a catch - Som2ny Network\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=25559#primaryimage\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=25559#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/01\/New-Banner-Size-1-min-6.png\",\"datePublished\":\"2025-01-13T08:25:41+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/fivemor.com\/?p=25559#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fivemor.com\/?p=25559\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/?p=25559#primaryimage\",\"url\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/01\/New-Banner-Size-1-min-6.png\",\"contentUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/01\/New-Banner-Size-1-min-6.png\",\"width\":1200,\"height\":630},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fivemor.com\/?p=25559#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fivemor.com\/?bp_activities=1\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"2024&#8217;s GTA real estate\u2014a buyer\u2019s market with a catch\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fivemor.com\/#website\",\"url\":\"https:\/\/fivemor.com\/\",\"name\":\"Som2ny Network\",\"description\":\"Daily Deals\",\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fivemor.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/fivemor.com\/#organization\",\"name\":\"Som2ny Network\",\"url\":\"https:\/\/fivemor.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png\",\"contentUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png\",\"width\":300,\"height\":86,\"caption\":\"Som2ny Network\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/fivemor.com\"],\"url\":\"https:\/\/fivemor.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"2024's GTA real estate\u2014a buyer\u2019s market with a catch - Som2ny Network","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fivemor.com\/?p=25559","og_locale":"en_US","og_type":"article","og_title":"2024's GTA real estate\u2014a buyer\u2019s market with a catch - Som2ny Network","og_description":"As we reflect on 2024\u2019s market, I can\u2019t help but draw parallels to another pivotal moment in Toronto\u2019s real estate history: the dramatic correction of the early 1990s. Back then, Toronto experienced what many considered unthinkable: a six-year decline that saw average home prices plummet by 28 per cent from their 1989 peak. The catalyst? [&hellip;]","og_url":"https:\/\/fivemor.com\/?p=25559","og_site_name":"Som2ny Network","article_published_time":"2025-01-13T08:25:41+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/01\/New-Banner-Size-1-min-6.png","type":"image\/png"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fivemor.com\/?p=25559#article","isPartOf":{"@id":"https:\/\/fivemor.com\/?p=25559"},"author":{"name":"admin","@id":"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371"},"headline":"2024&#8217;s GTA real estate\u2014a buyer\u2019s market with a catch","datePublished":"2025-01-13T08:25:41+00:00","mainEntityOfPage":{"@id":"https:\/\/fivemor.com\/?p=25559"},"wordCount":1123,"commentCount":0,"publisher":{"@id":"https:\/\/fivemor.com\/#organization"},"image":{"@id":"https:\/\/fivemor.com\/?p=25559#primaryimage"},"thumbnailUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/01\/New-Banner-Size-1-min-6.png","keywords":["2024s","Buyers","Catch","estatea","GTA","Market","Real"],"articleSection":["Real Estate"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fivemor.com\/?p=25559#respond"]}]},{"@type":"WebPage","@id":"https:\/\/fivemor.com\/?p=25559","url":"https:\/\/fivemor.com\/?p=25559","name":"2024's GTA real estate\u2014a buyer\u2019s market with a catch - Som2ny Network","isPartOf":{"@id":"https:\/\/fivemor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fivemor.com\/?p=25559#primaryimage"},"image":{"@id":"https:\/\/fivemor.com\/?p=25559#primaryimage"},"thumbnailUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/01\/New-Banner-Size-1-min-6.png","datePublished":"2025-01-13T08:25:41+00:00","breadcrumb":{"@id":"https:\/\/fivemor.com\/?p=25559#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fivemor.com\/?p=25559"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/?p=25559#primaryimage","url":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/01\/New-Banner-Size-1-min-6.png","contentUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/01\/New-Banner-Size-1-min-6.png","width":1200,"height":630},{"@type":"BreadcrumbList","@id":"https:\/\/fivemor.com\/?p=25559#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fivemor.com\/?bp_activities=1"},{"@type":"ListItem","position":2,"name":"2024&#8217;s GTA real estate\u2014a buyer\u2019s market with a catch"}]},{"@type":"WebSite","@id":"https:\/\/fivemor.com\/#website","url":"https:\/\/fivemor.com\/","name":"Som2ny Network","description":"Daily Deals","publisher":{"@id":"https:\/\/fivemor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fivemor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/fivemor.com\/#organization","name":"Som2ny Network","url":"https:\/\/fivemor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/#\/schema\/logo\/image\/","url":"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png","contentUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png","width":300,"height":86,"caption":"Som2ny Network"},"image":{"@id":"https:\/\/fivemor.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png","caption":"admin"},"sameAs":["https:\/\/fivemor.com"],"url":"https:\/\/fivemor.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts\/25559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25559"}],"version-history":[{"count":0,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts\/25559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/media\/25560"}],"wp:attachment":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25559"},{"taxonomy":"dealstore","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fdealstore&post=25559"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fofferexpiration&post=25559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}