- Home sales in the Greater Toronto Area set a new record in August 2016 with 9,813 sales, an increase of 23.5% from August 2015. However, there were two additional business days in August 2016 compared to 2015, so the annual percentage change adjusted for working days is closer to 13%.
- The average home price in the GTA rose 17.7% year-over-year to $710,410 in August 2016. Price increases were seen across all home types, with detached homes, semi-detached homes, townhouses and condominium apartments all seeing double digit price growth.
- Low borrowing costs, employment and wage growth have continued to support strong demand for ownership housing. However,