Canadian home sales tick higher in July, led by Greater Toronto Area market.

Original article via CTV. Click here to read.

The Canadian housing market is finding its footing after a prolonged stumble in the first half of the year, shaking off the impact of stricter mortgage rules, rising interest rates and provincial policy changes.

Home sales increased 1.9 per cent in July compared with June, according to the Canadian Real Estate Association. The bump-up marked the third consecutive month of recovery after an initial plunge in 2018.

“Essentially, stabilization in the Toronto region has been offset by a pullback in other areas, notably much of Western Canada,” said BMO Financial Group chief economist Douglas Porter.

No Comments

Post A Comment

Sign up for Toronto real estate property updates.

 

Join thousands of Torontonians who receive our automatic Toronto real estate property updates. Stop manually spending your time searching through listings, and let us send the properties that meet your criteria directly to your inbox.