\u201cThe price correction, alongside steadily rising incomes, has helped roll back the pandemic-era affordability deterioration entirely,\u201d the RBC Economics analysis said.\u00a0<\/p>\n
That\u2019s a positive development for first-time buyers, Khaneka said, even if plenty of potential buyers are also holding out and waiting for prices to fall further. \u201cI\u2019m hopeful to see that prices coming down is creating opportunities,\u201d he said.<\/p>\n
\u201cAre these first-time homebuyers and young professionals going to capitalize at this ideal entry point? I do see them doing so. I just don\u2019t know how close we are to it or how long it might still take, given there are a lot of units out there.\u201d<\/p>\n
For renters hoping to buy a condo, the current market might offer their best chance in years. \u201cIt\u2019s a perfect opportunity for people to get their foot in the market, build some equity, and then as they go into the next phase of life\u2026 they can always add on to that equity and ultimately use it as a stepping stone for the next purchase,\u201d he said.<\/p>\n
\u201cPrices are back to pre-pandemic levels, and there are a lot of units still left, which puts the ball right back in the buyer\u2019s court.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThe price correction, alongside steadily rising incomes, has helped roll back the pandemic-era affordability deterioration entirely,\u201d the RBC…\n","protected":false},"author":2,"featured_media":788688,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194291],"tags":[49,48,123391,8716,3302,33901],"class_list":["post-788687","post","type-post","status-publish","format-standard","has-post-thumbnail","category-toronto","tag-ca","tag-canada","tag-condos","tag-gta","tag-toronto","tag-toronto-housing-market"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/788687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=788687"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/788687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/788688"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=788687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=788687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=788687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}