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07

Toronto Home Sales and Prices Rise, Contrasting Vancouver Slump

By Tony Seruga

Home transactions rise 24% in August as prices jump 18%
Toronto gains as Vancouver slumps on new foreign buyer tax

Home sales in Toronto jumped to a record in August over the prior year, diverging from Vancouver where a foreign investor tax cooled Canada’s hottest housing market.

Transactions in Toronto rose 24 percent to 9,813, the Toronto Real Estate Board said in a statement Wednesday. The average price for all housing types rose 18 percent to C$710,410 ($553,000) in the Greater Toronto Area, while the price of a detached property in the city jumped to C$1.2 million…

Toronto Home Sales and Prices Rise, Contrasting Vancouver Slump

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