The Greater Toronto Area housing market ended 2024 with fascinating contradictions. Annual sales reached 67,610 units, up 2.6% from 2023, while new listings surged 16.4% year-over-year. The average selling price settled at $1,117,600, showing a marginal decline from 2023. December specifically saw 3,359 sales, a slight decrease from the previous year, with the average price at $1,067,186. Notable divergence appeared between property types, with detached homes showing resilience while condo apartments experienced more significant price pressures.

In this week's episode, we dive deep into the transformative forces shaping Canada's real estate market as we enter 2025. From the Bank of Canada's aggressive rate-cutting cycle to game-changing mortgage rule updates, we explore how these shifts are creating both opportunities and challenges across different market segments. We'll examine why Toronto's poised to potentially overtake Vancouver in pricing, why the condo market's facing headwinds, and what all this means for buyers and sellers in the months ahead.

Record-breaking rate cuts, evolving mortgage policies, and geopolitical uncertainties are reshaping Canada's real estate landscape as we enter 2025. This week's episode dives deep into the implications of recent developments and what they mean for buyers, sellers, and those facing renewal.