Which Ontario Cities will have the Biggest Home Price Drops | March 11th, 2023 | #shorts

Which Ontario Cities will have the Biggest Home Price Drops?

Ontario is expected to experience the largest housing market correction compared to other Canadian provinces, according to a new March 2023 report from Desjardins economists .

The report found that the province is likely to see a 25% drop by the end of 2023 from the market's peak, with the biggest price drops occurring in smaller Ontario communities.

Bancroft is expected to see the steepest decline in home prices, with a projected 50% drop, while Mississauga, York Region, Ottawa, Timmins, and Thunder Bay are expected to see less than a 25% drop. See Description for specific city/town price drops.

The report also notes that the erosion of housing affordability has led Ontarians to leave the least affordable parts of the province for cheaper pastures elsewhere in Ontario or outside the province altogether.

PROJECTED DROPS FOR 2023 ACCORDING TO DESJARDINS:
=================================================

Bancroft -50%

Northumberland Hills -42%

Woodstock-Ingersoll -40%

Grey Bruce Owen Sound -39%

Muskoka & Haliburton -39%

Chatham Kent -38%

Welland -38%

Windsor-Essex -37%

Peterborough & the Kawarthas -37%

St Catharines -37%

Niagara Falls-Fort Erie -36%

Parry Sound -36%

London and St Thomas -36%

Guelph -35%

Tillsonburg -34%

Quinte -34%

Huron Perth -34%

Brantford -34%

Kawartha Lakes -33%

Durham Region -33%

Cambridge -32%

Simcoe -32%

Kitchener-Waterloo -32%

Barrie -31%

Orillia -30%

Hamilton-Burlington -30%

Rideau-St Lawrence -30%

North Bay -30%

Cornwall -30%

Orangeville -29%

Southern Georgian Bay West -29%

Sudbury -28%

Sault Ste Marie -28%

Southern Georgian Bay East -28%

Renfrew -27%

Sarnia-Lambton -27%

Oakville-Milton -24%

Kingston -24%

Mississauga -23%

Greater Toronto -20%

Ottawa -20%

Timmins -20%

York Region -19%

#OntarioHousingMarket #TorontoRealEstate #HamiltonRealEstate #OttawaRealEstate #RealEstateMarket #HomePrices #HousingMarketTrends #AffordableHousing #CanadianRealEstate #HomeBuyers #HomeSellers #gtarealestate #hamont


______________________________________________________________________

FREE RESOURCES :

1)Corona Realty Inc. - Low Commission Free Pre-Listing Package https://coronarealty.ca/Corona_Realty_Pre-Listing_Package_2022.pdf

2)Corona Realty Inc. - Net More Money Buying and Selling by Doing 3 Simple Things: https://coronarealty.ca/3_Ridiculously_Simple_Things_Uploaded_2022.pdf


CONNECT WITH ME:

https://coronarealty.ca/

https://onepercenthamiltonrealtly.ca/

https://www.youtube.com/coronarealty

https://twitter.com/CoronaRealty

https://www.facebook.com/CoronaRealty/

WHO AM I:

Andrew Ielasi is the Broker of Record of Corona Realty Inc., Brokerage. He is a Licensed REALTOR® in the Hamilton and Surrounding Area for more than 30 years and Principle of the Brokerage since 1992. Andrew and the Brokerage provide Low Commission Rates for his Home Seller Clients and Cash Back Rebates to his Home Buyer Clients. Previously, Corona Realty Inc., Brokerage was an Independent Member Franchise of the Prudential Real Estate Affiliates and before that, it was a Franchise of a Ontario Regional Minimum Commission Real Estate Network known as MinCom Realty Systems. Andrew has had experience working at both Local Independent Brokerages as well as Franchises associated with National and International Real Estate Franchise Organizations.


Disclaimers:

--- Note: this video is not real estate, legal, financial nor accounting/tax advice and should be used for entertainment purposes only. Consult with your own real estate, legal, financial, accountant and/or tax advisor for specific advice related to your business or personal situation and needs.

--- Material referenced under Fair Use / (Fair Dealing in Canada) for the purposes of news reporting. No copyright infringement intended. The above copy and video information is an interpreted summary of a report by Randall Bartlett and Marc Desormeaux of Desjardins Economics and published on Desjardins.com with changes to the title of the article and our own constructed written summary. If the owner of the material wants it removed, contact us directly by email and we’ll discuss any required changes.

---For the full original article visit their website and article at:
https://www.desjardins.com/on/en/savings-investment/economic-studies/ontario-housing-market-march-6-2023.html

PDF File at:
https://www.desjardins.com/content/dam/pdf/en/personal/savings-investment/economic-studies/ontario-housing-market-march-6-2023.pdf