Toronto Home Sales Cool Amid Signs Prices May Be Next to Fall
- Sales halved in first two weeks of June, listings rose 22%
- Slowdown puts Toronto more in line with other big cities
Richardson's Kerlow Says No Canada Housing Correction Yet
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Here’s more evidence that one of the world’s hottest housing markets is cooling down.
Home sales in Toronto fell by half to 2,999 in the first two weeks of June from the same period a year earlier, according to preliminary data from the Toronto Real Estate Board obtained by Bloomberg News. The average price for all property types rose 6.7 percent to C$808,847 ($608,888), easing from a 17 percent gain last June. And listings surged 22 percent.