The Greater Toronto Area housing market continued to rebound last month with an 8.5 per cent increase in sales compared with a year ago, following a slow-down during the first half of 2018.
The Toronto Real Estate Board (TREB) said on Thursday that August saw 6,839 homes in the region sold through the MLS system. The average selling price also rose 4.7 per cent to $765,270 from $730,969 in August 2017.
It was the third month of year-over-year sales growth for the region, with July up 18.6 per cent from a year earlier and June up 2.4 per cent.
TREB President Garry Bhaura attributed the increases to homebuyers who are wading into the market after holding off on purchases because of stricter mortgage regulations and Ontario’s Fair Housing Plan, which introduced a foreign buyers tax and speculation fees on vacant homes in April 2017.
“It is encouraging to see a continued resurgence in the demand for ownership housing,” Bhaura said in a statement.
While preliminary seasonally adjusted sales in August were up by two per cent compared with July, TREB found the seasonally adjusted average selling price last month was down 0.2 per cent from the month before. [기사 전문 ↓]
Source: Greater Toronto home sales and prices in August up from year ago | Financial Post