June home sales in GTA up from last year but lack of supply led to tighter market conditions: TRREB

Figures released by the Toronto Regional Real Estate Board on Thursday show realtors reported 7,481 sales in the month of June compared to 6,422 the same time last year and 9,012 the previous month."The demand for ownership housing is stronger than last year, despite higher borrowing costs. With this said, home sales were hampered last month by uncertainty surrounding the Bank of Canada's outlook on inflation and interest rates," TRREB President Paul Baron said in a statement.

Most of the properties sold last month were detached homes , followed by condo apartments , townhouses and semi-detached houses .

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June home sales in GTA up from last year but lack of supply led to tighter market conditions: TRREBThe number of homes sold in the Greater Toronto Area last month was up from a year ago but was down from last May as buyers continue to face a lack of inventory.
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Real estate sales up as market returns to traditional seasonal patternA total of 705 properties sold in June, up from 612 in June of last year
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