TRREB COMMENT ON HOUSING MARKET!
Sunday Nov 05th, 2023
October sales in Toronto’s housing market were down over the same time last year as affordability concerns and economic uncertainty continue to weigh on buyers – although prices ticked higher year over year, the city’s real estate board has revealed.
The Greater Toronto Area (GTA) saw 4,646 home sales last month, a decline of 5.8% compared with October 2022, the Toronto Regional Real Estate Board (TRREB) said on Thursday.
The average selling price, though, jumped by 3.5% on a yearly basis while the MLS Home Price Index Composite benchmark ticked upwards by 1.4%. TRREB also reported a spike in new listings over October last year, although the current level remains subdued compared with the 10-year average for the month.