Toronto prices seen stabilizing as key housing ratio balances.

Original article via Globe and Mail. Click here to read.

The ratio of Toronto house listings compared with monthly sales has moved back into long-term balance, limiting the potential for significant further price corrections in the region, a new analysis concludes.

A report by National Bank of Canada economist Marc Pinsonneault said the ratio of listings to sales in the Toronto area hit 2.5 months in August, which means it would take 2.5 months to sell all houses listed in the region at the pace of sales recorded last month. That’s a significant change from earlier this year as the ratio hit a low of 0.66 months in February because of a lack of inventory available for sale in the city.

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