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Toronto Home Sales Decline in August as Recovery Stalls
Home sales in the Greater Toronto Area fell 1.8% month-over-month in August amid a 22% rise in listings and a 5.2% annual price decline, signaling market softening.
- Toronto home sales fell 1.8% in August to 5,633 transactions amid the city’s largest real estate market, marking the first decline since March.
- The sales decline followed months of slow activity influenced by high prices, persistent economic uncertainty, and trade tensions between Canada and the U.S.
- New listings rose 9.4% year-over-year to 14,038 in August, outpacing demand and increasing market supply as buyers faced less competition.
- The Toronto home price index dropped 0.1% from July to $978,100, down 5.2% compared to last August, while the average sale price fell 5.2% to $1.02 million.
- TRREB expects potential Bank of Canada interest rate cuts starting September 17 could encourage more buyers and support home sales recovery in the GTA.
34 Articles
34 Articles
Greater Toronto home prices slip as listings outpace sales: board (Canada)
Home prices in the Greater Toronto Area remained under pressure in August as new listings outpaced sales. The Toronto Regional Real Estate Board says the average sale price was down 5.2 per cent in August from last year to $1.02 million, with the composite benchmark price falling by the same amount....
Toronto home sales decline in August as recovery stalls
By Fergal Smith TORONTO (Reuters) -Greater Toronto Area home sales fell for the first time in five months in August and prices edged lower, Toronto Regional Real Estate Board data showed on Thursday. Seasonally adjusted sales fell 1.8% on a month-over-month basis to 5,633 units, which was the first decline since March. TRREB’s home price index also edged lower after seasonal adjustment from July, dipping 0.1% to C$978,100 ($707,896). Prices have…
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Greater Toronto home prices slip as listings outpace sales: board
TORONTO — Home prices in the Greater Toronto Area remained under pressure in August as new listings outpaced sales. The Toronto Regional Real Estate Board says the average sale price was down 5.2 per cent in August from last year to $1.
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