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Toronto Home Sales Continue to Rise in August as Supply Shrinks

  • Low-rise homes have strongest annual rate of sales growth
  • Stricter mortgage lending rules continue to hinder some buyers
Homes For Sale As Ontario Tries To Temper Rising Prices With New Tax
Photographer: Mark Sommerfeld/Bloomberg

Toronto home sales and prices rose in August as demand continues to outstrip supply.

Sales in Toronto jumped 13% to 7,711 from the same period last year, the Toronto Real Estate Board said in a report Thursday. That was largely driven by a boost in detached-home sales, which soared 21% over last year. On a seasonally adjusted basis, total sales rose 0.8% from July.