Greater Toronto Area (GTA) home sales fell in October for the fifth consecutive month as higher borrowing costs kept buyers sidelined, while the average...
TORONTO - Greater Toronto Area home sales fell in October for the fifth consecutive month as higher borrowing costs kept buyers sidelined, while the average price of a home was little changed.
"Record population growth and a relatively resilient GTA economy have kept the overall demand for housing strong," TRREB President Paul Baron said in a statement. The average price of a home was up 3.5% compared to the same month last year at C$1,125,928 but was down 15.6% from the February 2022 peak. The seasonally adjusted average price was little changed month-over-month, edging up 0.2% after three straight months of declines.
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