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

Someone in Toronto just photographed all the vacant storefronts on Queen West

Frontline worker finds bike stolen after working 28-hour shift at Toronto hospital

A ridiculous amount of trash was just taken out of a Toronto ravine

Toronto wildlife experts warn that bleaching pumpkins could kill animals

Someone in Toronto just transformed their house into an epic Halloween lights display

Toronto now has a giant red panda made of hay bales

Ontario extends pandemic emergency orders until end of November

Toronto expected to see its last day of temperatures above 20 C this week