The benchmark price for a home in Canada’s largest city climbed 2.5% to C$1.12 million in March from a month earlier, according to a report released Wednesday by the Toronto Regional Real Estate Board. Both sales and new listings in the greater Toronto area were down from a year earlier.
Through the first quarter, “competition between buyers was heating up,” Paul Baron, the real estate board’s president, said in a statement. Polls show that “demand for ownership housing will continue to recover this year. Look for first-time buyers to lead this recovery.”
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