toronto real estate

Toronto's housing market just saw a major jump in sales

It's starting to look like Toronto's turbulent housing market is finally regaining strength as newly released stats show housing sales took a huge jump last month.

The numbers from June show a 4.1 per cent increase in sales after what was a tough first half of the year that, back in May, saw home sales hit a five-year low.

Now it looks like the market is on the upswing as home buyers begin to navigate newly introduced regulations on mortgages meant to cool the housing market, resulting in the market beginning to stabilize.

Toronto's housing market currently leads Canada's overall market gains this year, contributing to a 17 per cent increase in home sales. Montreal experienced a 1 per cent increase and Vancouver's housing sales fell by 1.3 per cent.

Home sales in Toronto rose by 2.4 per cent from June 2017, according to the Toronto Real Estate Board, while month-to-month ups and downs are expected for the remainder of the year.

Lead photo by

Julia Nathanson

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