TABLE-Toronto home prices rise 13% in July, condos buck overall drop in sales

  • 8/5/2021
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TORONTO, Aug 5 (Reuters) - Home prices across Toronto, Canada"s most populous city, climbed nearly 13% in July from a year ago, while new listings fell almost 31%, data from the Toronto Regional Real Estate Board (TRREB) showed on Thursday. Sales fell about 15% in July, but remained above average for this time of year after setting a record in June. Condominiums, whose sales fell last year as many people sought larger homes further away from cities, were the only type of housing with sales growth from a year earlier. "The annual rate of price growth has moderated since the early spring, but has remained in the double digits," said TRREB Chief Market Analyst Jason Mercer. "This strong upward pressure on home prices will be sustained in the absence of more supply, especially as we see a resurgence in population growth moving into 2022." JULY JUNE JULY 2020 YR/YR PCT CHANGE TOTAL SALES 9,390 11,106 11,033 -14.9% AVERAGE PRICE C$1,062,256 C$1,089,536 C$943,594 12.6% NEW LISTINGS 12,551 16,189 18,119 -30.7% After preliminary seasonal adjustment JULY MTH/MTH PCT CHANGE SALES 8,827 -2.0% AVERAGE PRICE C$1,071,405 0.9% Sales by type of property JULY YR/YR PCT CHANGE DETACHED 4,121 -26.4% SEMI-DETACHED 868 -18.5% TOWNHOUSE 1,694 - 8.2% CONDO APARTMENT 2,614 8.2% Average price by type of property JULY YR/YR PCT CHANGE DETACHED C$1,405,478 21.7% SEMI-DETACHED C$1,027,895 12.2% TOWNHOUSE C$849,950 15.9% CONDO APARTMENT C$674,490 6.0% (Reporting by Nichola Saminather; Editing by Richard Chang) Our Standards: The Thomson Reuters Trust Principles.

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