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Toronto home prices surge more than 20% as bubble debate heats up

Article content Toronto home values continued to swell in March, bringing annual average price gains to more than 20 per cent and adding fuel to a raging debate about whether policy makers should try to cool the market. New listings were up 57 per cent from March 2020, when the onset of the pandemic temporarily caused a freeze in real estate activity. But the new supply was not able to keep up with demand spurred by low borrowing costs and demand for bigger homes, especially in the suburbs, a report from the Toronto Regional Real Estate Board said Tuesday. We apologize, but this video has failed to load.

Justin trudeauJason mercerJean francois perraultBharat masraniDominion bankPostmedia network incCanada mortgage housing corpTyler anderson nationalRoyal bankToronto regional real estate boardPrime minister justin trudeauNova scotiaGreater toronto areaToronto dominion bankHousing corpPostmedia network

Toronto home sales up 97% in March, prices up as demand outstrips new listings - Business News

Toronto home sales up 97% in March, prices up as demand outstrips new listings - Business News
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It will now cost you $1 75 million to buy an average detached house in Toronto

Stay in the loop Sign up for our free email newsletter. Unsubscribe anytime or contact us for details. Home sales and price growth both continue to accelerate at a rapid pace in Toronto, even as economists sound the alarm over a looming real estate bubble one that will be absolutely enormous if and when it bursts. A staggering 9,148 home sales were reported across the GTA between March 15 and March 31 of 2021 alone, according to new figures released by the Toronto Regional Real Estate Board (TRREB) on Tuesday. This represents an increase of 174 per cent compared to the same time period one year earlier, thought it s important to note that sales activity dropped off dramatically during the second half of March 2020 due to the initial impacts of COVID-19.

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Toronto home sales double from March pandemic low and average price rises to $1 1M

Toronto home sales double from March pandemic low and average price rises to $1 1M
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Toronto home sales up 97% in March, prices up as demand outstrips new listings

Toronto home sales up 97% in March, prices up as demand outstrips new listings
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