How are First Nations
How are First Nations' fish farms transforming the West Coast?: Ken Coates and Dallas Smith
Don’t mess with the Bank of Canada’s mandate: Trevor Tombe in The Hub

Greater Toronto home sales down as mortgage costs, trade war weigh on buyers: board [Video]

Categories
Canadian Economy and Markets

Home sales in the Greater Toronto Area fell by more than one-quarter in February compared with a year ago despite buyers maintaining “substantial” negotiating power.

The Toronto Regional Real Estate Board said Wednesday that 4,037 homes were sold last month, down 27.4 per cent compared with 5,562 in February 2024.

Sales were down 28.5 per cent from January on a seasonally adjusted basis.

“Many households in the GTA are eager to purchase a home, but current mortgage rates make it difficult for the average household to comfortably afford monthly payments on a typical property,” said TRREB president Elechia Barry-Sproule in a press release.

The average selling price declined 2.2 per cent compared with a year earlier to $1,084,547, as the composite benchmark price, meant to represent the typical home, was down 1.8 per cent year-over-year.

Story continues below advertisement

Meanwhile, 12,066 properties were newly listed in the GTA last month, up 5.4 per cent …

Senior Fellow Peter Menzies on why government has no business subsidizing journalism
Senior Fellow Peter Menzies on why government has no business subsidizing journalism
We should start acting like the energy superpower we are: Heather Exner-Pirot in the Financial Post