Home sales plummet 69% in April as coronavirus shutdowns hit housing market. GTA area home sales off a cliff, real estate experts say that while prices may stall as people stay home, they will pick up where they left off once the crisis passes. Sales started falling off a cliff since mid-March when the provinces restricted activity and implored residents to stay at home.
Dhaval Desai's blog
2020 starts off with a bang for the Toronto housing market, as the latest round of data reveals year-over-year prices have already begun a meteoric rise. The Toronto Regional Real Estate Board (TRREB) reports that home prices soared 12.3% in January 2020 to $8839,363 from January 2019.
Canadian real estate is increasingly becoming a seller’s market as supply shrinks to decade lows, raising the prospect of rising prices and the re-emergence of froth in some major cities.
Toronto Real Estate Board announced that, Greater Toronto Area Sales increased by 14% compared to last year. Real estate board says there were 8,491 residential sales through TREB's MLS® System in October 2019, up from 7,448 sales reported in October 2018. GTA-wide, sales were up on a year-over-year basis for all major home types.
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Sales grew 13.4% in August YoY, and 24.3% over July as a strong unpredicted upswing hit the Toronto housing market. Forecasts are for continued rising prices in the high density homes sector (Toronto condo forecast) as listings (down 10.5% YoY) lag behind buyer demand.
The Toronto Real Estate Board says home sales in the Greater Toronto Area in August were up 13.4 per cent compared with a year ago.
The Greater Toronto Area's home price index was up 4.4 per cent last month as the supply of properties for sale tightened and the number of sales jumped 24.3 per cent from July last year, the Toronto Real Estate Board reports.
The Toronto region’s resilient housing market helped fuel strong sales and price growth in markets across Southern Ontario in June as home buyers in the GTA looked for more affordable properties. Canada's largest housing market registered another month of double-digit sales gains in June, while deteriorating inventory helped push prices higher.
Toronto home sales surge nearly 19 per cent in May 2019, Toronto home prices climbed last month as sales volumes roared ahead by almost 18.9% per cent, Toronto's housing market could be shifting to favour sellers as home sales growth outpaces listings growth.