GTA HOUSING PRICES MOVING DOWNWARD

Jun 21, 2017

By Michael Kramer

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Housing prices for June in the GTA are continuing to drop.
Mid-month figures from the Toronto Real Estate Board show the average price of a re-sale home had declined –  to $808,847.
That’s about $57,000 less than the average for May – but prices still rose 6.7 percent year-over-year.
The figures for mid-month are not considered an “official” release – and TREB doesn’t comment on them.
The TREB stats for June 1st to 14th show a 56.2 percent drop in the number of sales across the region – with the sharpest declines in detached houses.
Realtors say the market was already cooling in March – when the Ontario government announced its Fair Housing policy – including a foreign buyers tax in April.
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