Home buyers are starting to move back into the market

TORONTO, ONTARIO, July 5, 2018 :                                                                                                   

Toronto Real Estate Board reported 8,082 home sales through TREB’s MLS® System in June 2018 – up 2.4 per cent compared to the low June 2017 result. 
Home buyers are starting to move back into the market, with sales trending up from last year’s lows.

The average selling price edged up by two per cent on a year-over-year basis to $807,871 in June 2018. The MLS® Home Price Index (HPI) was down by 4.8 per cent on a year-over-year basis, but remained basically flat month-over-month. The difference in the year-over-year rates of change between the average price and the MLS® HPI was likely due, at least in part, to a change in the mix of properties sold in June 2018 compared to June 2017, with low-rise home types accounting for a greater share of sales in June 2018.