Toronto Housing Sales Make Year-Over-Year Gain

Toronto housing sales saw a drop between June and July this year, but the market made a 3.3 percent year-over-year gain, according to Toronto Regional Real Estate Board data. However, sales were up 3.3 percent from this time last year, the report said. Pearce said the growth could be a result of the two Bank of Canada interest rate cuts that were announced in June and July. “Additionally, the cost of borrowing is anticipated to decline further in the coming months. Expect sales to accelerate as buyers benefit from lower...