The slowdown underway in Toronto’s housing market continued last month, with new figures showing the number of homes sold in Canada’s biggest city fell by almost half compared to a year ago.
The Toronto Region Real Estate Board (TRREB) said 6,474 homes were sold in the Greater Toronto Area last month, down by 41 per cent compared to last June.
As was the case in many parts of Canada, house prices in and around Toronto exploded during the pandemic, as record-low interest rates allowed buyers to stretch their budgets to buy more expensive homes. But that trend changed direction abruptly in March of this year,
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