The Toronto Condo Market This Week – August 19, 2016
Lack of supply driving GTA house price surge, studies say
Toronto is in the midst of a housing heat wave, with sales activity and prices both breaking new records in July. But one thing that seems capable of putting the brakes on the market is what the Toronto Real Estate Board has called the “troubling trend” of a shrinking supply of homes for sale, particularly detached homes.
July brought largest year-over-year rise in Canadian home prices in six years
Canadian home prices rose in July, and according to real estate data firm Teranet, the increase was driven by hot housing markets in BC and Ontario.
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