Leaders continue to underscore how crucial it is that we ramp up residential construction, yet a record number of homes — upwards of 30,000 — sit on the market each month. According to recent data, in a whopping 98 per cent of neighbourhoods in the Toronto area, the average home is now going for under its asking price. Local real estate platform Wahi, which inspects underbidding and overbidding trends each month, released the figures in its latest report for August. "August represented an increase from July, when 95 per cent of neighbourhoods were underbid, as well as compared to the same time a year ago, when the share of underbid neighbourhoods reached 89 per cent." One will notice that the overbid amounts are far less drastic than the above-mentioned underbid amounts, even when the lower home prices in these areas are taken into account: