Inventory Shortage Continues to Push Prices Up
April 6, 2016 – Toronto Real Estate Board President Mark McLean announced record TREB MLS® home sales for the first quarter of 2016 following a strong result for March transactions. Year-over-year growth rate for sales was 15.8 per cent for Q1 2016 and 16.2 per cent for March 2016 while new listings continue to decline, down 30% compared to the same period in 2015. The shortage of homes continues to drive strong competition between buyers resulting in double-digit rates of price growth.
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Here’s a quick look at the numbers. Feel free to share this infographic.
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Data Source: Toronto Real Estate Board (TREB) Market Watch