THE GTA HOUSING MARKET BEGINS RECOVERY AFTER PANDEMIC PLUNGE

Jul 07, 2020

By Jane Brown

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GTA housing prices are on the rise and sales are recovering from the pandemic plunge.

A new Toronto Regional Real Estate Board report says the number of homes sold in the GTA in June was just shy of the mark set a year ago, as the average selling price rose nearly 12 per cent compared with June 2019.

Home sales plunged earlier this year as the COVID-19 pandemic forced buyers to the sidelines, but sales have now picked up as businesses have started to reopen.

The TRREB report says there were 8701 homes sold last month, up 84 per cent compared with May.

The average selling price was just over $930,869.

TRREB President Lisa Patel says it’s still the early days of recovery, but barring any setbacks, she expects to see stronger market conditions in the second half of the year.

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