While some weakness was observed month-over-month, sales trends exhibited strength on an annual basis
A 17% month-over-month increase in Toronto’s home transactions in June propelled sales in the national market to their fastest monthly pace this year (4.1%), per the latest figures from the Canadian Real Estate Association.
Meanwhile, new data from the Toronto Real Estate Board suggested that the first half of July exhibited weaker performances than the same period in the previous month, according to real estate information portal Zoocasa.
This was offset by annual improvement across most housing types in the Greater Toronto Area.
According to TREB year-over-year data covering the period July 1-15, 2018:
- Condo apartment sales went slightly down by 1% down in the City of Toronto and up 6% across the GTA.
- Condo townhouse sale went up 20% in the City of Toronto and up 20% across the GTA.
- Detached home sales declined by 4% in the City of Toronto and increased by 9% across the GTA.
- Semi-detached housing sales dropped by 8% in the City of Toronto and slightly grew by 1% in the GTA.