May 8, 2021
 

Toronto housing market heats up in June: Sales jump 10%, listings fall

  • Canada's largest housing market registered another month of double-digit sales gains in June, while deteriorating inventory helped push prices higher.

    There were 8,860 property transactions across the Greater Toronto Area in June, representing a 10.4 per cent increase from a year earlier.

    Meanwhile, total active listings fell almost six per cent in the month.

    The combination of rising sales and fewer homes on the market helped lift the average selling price three per cent to $832,703.

    That opened the door for the local real estate board to renew its criticism of stress tests on uninsured mortgages that took effect at the start of last year.

    "Over the next year, as demand for ownership and rental housing continues to grow, my hope is that we will see more movement from policy makers on two fronts: alleviating the constrained supply of housing and providing more flexibility around demand-side policies, including the OSFI two percentage point mortgage stress test and allowable amortization periods on insured mortgages,” said Toronto Real Estate Board President Michael Collins in a release.

bnnbloomberg.ca

Right At Home Realty Inc., 
Brokerage Toronto, Ontario
Canada, L5S 1X2
Phone: 416-818-1466
Fax: 905-565-6677

                                               

Wendy Wen

Sales Representative
Direct: 416-818-1466
Bus: 905-565-9200
wendyhomewendy@gmail.com

                                             WeChat 
 

 

*We do not represent the builders.

Right At Home Realty Inc., Brokerage, Independently Owned & Operated