Home sales in the GTA are up, supply is down

The Toronto Regional Real Estate Board (TRREB) has a new report claiming that home sales in the Toronto area reached the second-highest level ever for October.

Over the month, there were a total of $9,783 homes which is down 6.9 percent compared to 2020, but still up overall. The report claims that there were fewer homes sold this year because there wasn’t enough supply. To make up for it, the board says that there were more condo sales than last year.

To solve the problem, the board is asking for more homes to be made in the area. However, that’s a tune we’ve been hearing for a while so I don’t expect much to change.

Source: Urban Toronto

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