Housing Prices Dip Slightly But Tight Supply Keeps Costs Up

Original article via The Toronto Star. Click here to read.

Has the searing Greater Toronto Area housing market lost some of its sizzle?

According to the latest statistics from the Toronto Real Estate Board (TREB), the annual pace of increase for the City of Toronto house prices rose by nearly 15 per cent last month, compared to May 2016.

But the volume of home sales, meanwhile, in both Toronto and the Greater Toronto Area (GTA) took a hit. The GTA encompasses the 905 and 416 area codes.

The total average sales drop was –20.3 per cent, year over year, TREB says.

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