Economics
Toronto Housing Market Posts Biggest Price Gain in 21 Months
- Sales continued to jump in September as supply tightens
- Housing still remains unaffordable for many buyers in city
This article is for subscribers only.
The Toronto housing market continued to rebound in September, with prices rising the most in 21 months, bringing the cost of a typical home close to the record high set in 2017.
The benchmark price across all types of homes rose 5.2% from a year earlier to C$805,500 ($604,957), the highest annual rate of growth since December 2017. That’s about C$10,000 short of the record set more than two years ago when soaring prices prompted a series of government policy changes to cool the market. Prices were driven higher by a decline in supply, with active listings down 14% to 17,254.