Toronto house sales plummet to an all-time low as buyers recoil from market

broke a record in July, but this time, it's very bad news for the turbulent real estate biz.

As buyers pulled away from the single-family home market in July, the GTA condo market experienced a five per cent year-over-year increase in sales with 1,777 units sold, hovering three per cent above the ten-year average. This shortage of inventory is only getting worse. According to the report, total new home remaining inventory decreased compared to the previous month, now standing at just 10,848 units.

Condos still up tho

A July market report shows just 97 single-family homes sold during July.This figure includes detached,linked,semi-detached houses & townhouses across the entire GTA & marks the only instance of single-family sales dropping below 100 units in the 22 years of data tracking

Well, at least we don’t have a huge chunk of the economy tied to real estate… oh, wait.

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