Housing Market 2024 Ontario Housing. According to the ontario real estate association (orea), ontario’s housing market witnessed a slight increase in residential sales in july 2024, rising 2.9% from the previous year.however, this growth remains below historical averages, indicating a market adjusting to recent economic changes. The resale market is still projected to gain traction in the second half of 2024, although we’ve dialed back the expected pace of gains in sales and prices relative to our march forecast (chart 1).
Residential sales activity reported through the mls® systems of real estate boards in ontario numbered 14,858 units in july 2024. Rental housing construction in ontario has lagged behind.