RELATED: Homes sales and listings in the Greater Toronto Area were up in February from last year, but adjusted sales declined from a month earlier according to the Toronto Regional Real Estate Board. TRREB says population growth, a resilient economy and the possibility of the end of rate hikes helped fuel the jump.
The board says 6,560 homes changed hands in the month compared with 6,868 last year, while noting this year’s sales figures were down in part due to the statutory Good Friday holiday falling within March rather than April.New listings were up 15 per cent over the same period, which TRREB president Jennifer Pearce attributes to homeowners possibly anticipating an improvement in market conditions in the spring.‘They did everything they could’: Family sounds alarm over fatal Strep A case in N.S.
The first quarter ended with 11.2 per cent higher sales year-over-year and new listings up by 18.3 per cent for the three-month period.Pearce says that if borrowing costs begin to decrease later this year, sales will rise and new listings will be absorbed, causing tighter market conditions that push selling prices higher.
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