Toronto's housing market set another record last month
It's heating up all over Toronto, especially in our housing market. Yes, we hit another record last month as the competition to lock down single family dwellings remains fierce, according to the Toronto Real Estate Board (TREB).
As the Financial Post reports, nearly 13,000 homes were sold in the GTA last month, up 10.6 per cent since May 2015. In total, 12,870 homes changed hands last month; 4,638 were in Toronto proper and the rest (8,232) were in the suburbs.
Yet despite the record number of sales, there's a shortage of single family homes, writes the Post. In total, 17,412 new listings hit the market last month; that's six per cent fewer than May 2015.
Photo by sssteve.o! via the blogTO Flickr pool.
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