The Toronto housing market is picking up steam at an “uncomfortable” magnitude, one that resembles the sky-high gains of 2016 which subsequently led to a slew of regulatory measures to tame markets, according to a new report from RBC Economics.

“It’s looking more and more like early-2016 all over again. This is not a good sign,” wrote RBC senior economist Robert Hogue.

According to recent data from the Toronto Real Estate Board, January saw the largest month-over-month price increase since October 2017, with the average selling price increasing by 12.3 per cent year-over-year. New listings, meanwhile, were down 17.1 per cent compared to last year.

https://business.financialpost.com/real-estate/this-is-not-a-good-sign-toronto-housing-price-surge-resembles-sky-high-gains-of-2016