28 Aug Toronto Real Estate is seeing a massive flood of inventory.
Original article via Better Dwelling. Click here to read.
Toronto real estate has been cooling down, but it’s hard to tell how much without some context. Numbers from the Canadian Real Estate Association (CREA) give us that, showing how it compares to the rest of Canada. Toronto is seeing the largest decline in sales to new listings in the country, as sales struggle to keep up with the city’s huge inventory growth.
Toronto’s new listings are showing massive increases. In fact, listings are growing at the second highest rate of any city in Canada. Toronto saw 115,475 new listings year-to-date as of the end of July 2017, a 16.3% increase from the same time last year.CLICK FOR THE FULL ARTICLE