Toronto home prices continue to surge

Toronto's real estate market looks like it's going to stay red hot right up until the end of 2016. Home prices are continuing to soar as we move into the final month of the year.

According to a new report from the Toronto Real Estate Board (TREB), home prices across the GTA rose more than 20 per cent this past November in comparison to November 2015.

It's still a sellers market out there - as prices continue rise, the number of listings for November 2016 fell since this time last year.

"Home buying activity remained strong across all market segments in November. However, many would-be home buyers continued to be frustrated by the lack of listings, as annual sales growth once again outstripped growth in new listings. Seller's market conditions translated into robust rates of price growth," said TREB president Larry Cerqua in a news release.

Despite everything, 8,547 houses sold last month, a number that's up 16.5 per cent since last year.