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GTA housing market showing signs of tightening - BNN Bloomberg

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Toronto's housing market continued to tighten last month as prices edged up four per cent from March and sales moved closer to the level they were at last April, the Toronto Regional Real Estate Board revealed Wednesday.

as prices edged up four per cent from March and sales moved closer to the level they were at last April, the Toronto Regional Real Estate Board revealed Wednesday.

Pushing these buyers to the sidelines were eight consecutive interest rate hikes, which took a bite out of their borrowing power, even as prices started to tumble. April's supply level was much lower than the city has seen in the past. New listings for the month totalled 11,364, down 38.3 per cent from a year ago.April's average price was roughly four per cent higher than the $1,108,499 the average buyer paid in March.

Toronto's data was released a day after the Real Estate Board of Greater published its April data, which it said showed home sales are staging a comeback and headed toward levels seen last spring.

 

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