The impact of Coronavirus on Metro Toronto property prices will be significant.
Buyer interest was high in the first three months of 2020, but the market has already begun to slow since open houses were suspended at the end of March.
GTA prices have been more volatile than other regions because of low supply. That volatility may translate into downside risk as we enter a global recession.
Short-term rentals in Toronto (now vacant due to Coronavirus) may be converted to long-term furnished apartment rentals or sold, and this could add unexpected supply to a weak market.
Metro Toronto property prices were facing several high impact risks before taking the Coronavirus into account.
