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

Doug Ford is following through with municipal funding cuts for 2020

Chinese nationalists crash Hong Kong rally in Toronto with luxury cars

Toronto Eaton Centre placed on lockdown after anti-fur protesters storm mall

The Humber Bay Arch Bridge is one of Toronto's most enduring landmarks

This Toronto intersection is a total pedestrian nightmare

Air Canada just unveiled brand new planes departing from Toronto

This is what those big white tents next to the Gardiner Expressway are for

U of T was just ranked the best university in Canada