Saturday, May 31, 2025

Latest

Toronto Housing Market Slumps From Record Highs in July

Canada’s largest housing market is beginning to show signs of cooling off, as sales levels continue to slump from record highs.

According to the latest data published by the Toronto Regional Real Estate Board (TRREB), there were a total of 9,390 properties that traded hands in the Greater Toronto Area (GTA) in July, marking a 14.9% decline from year-ago levels. However, sales levels were down 40% from the record 15,652 transactions that occurred in March, suggesting that the peak in real estate activity has waned.

The average selling price in July remained modestly unchanged at $1,062,256 from a month earlier, but was still 12.6% higher compared to July 2020. “The annual rate of price growth has moderated since the early spring, but has remained in the double digits. This means that many households are still competing very hard to reach a deal on a home. This strong upward pressure on home prices will be sustained in the absence of more supply, especially as we see a resurgence in population growth moving into 2022,” explained TRREB chief market analyst Jason Mercer.

Indeed, despite the decline in transactions, housing prices remained supported by tighter inventory. According to TRREB, there were a total of 9,732 active property listings at the end of July, down from the 11,297 units witnessed in June.


Information for this briefing was found via the TRREB. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

Delinquency Rate on Single Family Mortgages Rises Sharply in June to 2.48%, Up From 0.81% in May

A double-dip recession becomes more and more evident as coronavirus cases continue to soar across...

Tuesday, July 28, 2020, 02:05:33 PM

New Home Sales in the US Suffer Biggest Drop Since 2013

With unemployment numbers in the millions due to economic lockdowns across the entire country and...

Saturday, April 25, 2020, 02:00:00 PM

Suburban Rent Prices on the Rise as City Exodus Continues

As anticipated, the recent mass exodus out of urban and downtown areas across the US...

Thursday, October 22, 2020, 03:10:00 PM

Manhattan Real Estate Market Plummets as City Dwellers Seek Housing in Rural Communities

As major cities across the US are under the siege of soaring coronavirus infection rates,...

Tuesday, July 7, 2020, 02:53:00 PM

Blackstone Withdrawals Mostly Coming From Asian Investors

Last week, after the WSJ announced that Blackstone Inc (NYSE: BX) would be selling its...

Saturday, December 10, 2022, 11:36:00 AM