May
15
Toronto Home Price Rally Triggers Rush of Listings in April
By-
Benchmark home price in Canada’s biggest city up 5% on month
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New listings increase 36% in Toronto to new record levels
Toronto home prices continued surging in April, prompting a rush of new listings that hints the rally could soon be poised to slow.
Toronto’s benchmark home price index rose 5 percent last month, the second highest gain in data going back to 2005, a report Monday from the Canadian Real Estate Association showed. The record gain was a 6.2 percent advance in March, bringing year over year price increases to 32 percent.
What has changed over the past month is that soaring prices are finally beginning to bring sellers into the market, possibly anticipating a slowdown after Ontario Finance Minister Charles Sousa brought in a suite of measures including a foreign buyer tax on April 20…
Toronto Home Price Rally Triggers Rush of Listings in April
