Home sales in Canada’s largest city slowed down for the third month in a row, according to numbers released from the Toronto Real Estate Board. That came as new listing increased nearly 16 per cent, and as active listings surged over the year before.
The median residence price still went up 6.3 per cent on the year, but that’s well off the blistering annual tempo of only a few months ago.
The June numbers delivered further evidence that the raft of new measures implemented by the Ontario government in April–from a new foreign buyers tax to lease controls–are starting to take their effect.
The next few months will be crucial in determining whether the Toronto housing market has simply stumbled, or if this is the start of a deeper correction yet to come.
Here’s a look at how Toronto real estate market over the first six months of 2017 is comparable to last year:
Thinking to sell your house or Condo in Central Toronto areas and/or in downtown Toronto areas? Please call, text or email Max Seal, Broker at 647-294-1177. Please visit http://www.TorontoHomesMax.com for a FREE Home Evaluation“.
Thinking to buy a House or Condo in Central Toronto areas and/or in Downtown Toronto areas? please call or text Max Seal, Broker at 647-294-1177 to buy your dream home or Condo. I offer you a 30-min “FREE buyer’s consultation” with NO obligation.
Please visit my website http://www.centraltorontorealestate.com/ to find out available homes and Condos for sale in Central Toronto areas and/or in downtown Toronto areas.
Source: Maclean’s Magazine
Leave a Reply