Strong Growth in Home Sales in March 2016 prices are up another 15% year over year

The year-over-year growth rate for sales was 15.8 per cent for Q1 2016 and 16.2 per cent for March 2016.  For the TREB market area as a whole, double-digit year-over-year rates of sales growth were experienced for all major home types during the first quarter.

The number of new listings entered into TREB's MLS® System during March and the first quarter were down compared to the same periods in 2015. (supply and demand) Supply down demand up, prices go up. 

The MLS® Home Price Index Composite Benchmark for March 2016 was up by 11.6 per cent compared to March 2015.  The average selling price for all home types combined was up 12.1 per cent year-over-year in March and 13.6 per cent in the first quarter.


source:TREB