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As of the end of November, the Toronto Region Real Estate Board had reported 23,128 rental gross sales in 2023 — a forty four per cent decline from the identical period in 2021. “If you’re feeling that these costs are actually too high and that they’ll come down, no matter how motivated you are to purchase a home, you will have a bent to wait and see,” he mentioned. “It’ll flip around eventually, but proper now I think that purchaser sentiment is entrenched.” Butler says “buyer sentiment” may have a big influence on costs in 2024. TD economist Rishi Sondhi predicts sales volumes to remain comparatively low in the coming 12 months, although higher than what the numbers had been in 2023. High interest rates, inflation and a slowing economy hit Canadian wallets onerous in 2023.