toronto real estate

Weak Toronto home sales drag national market way down

For the past few months, folks tuned into the local real estate market have been speculating that things in Toronto were starting to cool down.

According to the latest data from the Canadian Real Estate Association, home sales are down across the country. "June sales were down from the previous month in 70 percent of all local markets, led overwhelmingly by the Greater Toronto Area (GTA)," reads a report that came out today.

For the third month in a row, home sales declined in Canada. They dropped 6.7 percent from May to June 2017 and decreased by 11.4 percent in comparison to June 2016.

The CREA says this is the biggest national decline since 2010.

While listings in the Golden Horseshoe area were at all-time lows earlier this year, they're now picking up, meaning there are more homes for sale on the market.

Lead photo by

Jonathan Castellino


Join the conversation Load comments

Latest in City

Major road closures about to turn Eglinton into a nightmare

TTC to remove streetcars on Dundas and Carlton routes

Toronto just got an epic new skating rink

The Condom Shack is closing after 25 years on Queen West

The top 25 historical buildings in Toronto

Water skiing squirrel was the star of the weekend in Toronto

Man trying to blow up Toronto gas station caught on video

Toronto mall ranked one of world's worst for counterfeit goods