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Cooling signs in GTA housing market

“Homebuyers and sellers both reacted to the recent Ontario government policy announcement aimed at cooling housing markets in and around Toronto,” says Gregory Klump, Chief Economist at The Canadian Real Estate Association (CREA).

According to the latest statistics released by CREA, the national home sales fell 1.7% from March to April and the actual (not seasonally adjusted) activity in April was down 7.5% from a year earlier.

The number of newly listed homes jumped 10% from March to April. The MLS® Home Price Index (HPI) was up 19.8% year-over-year in April 2017 and the national average sale price rose 10.4% year-over-year in April.

Klump noted that the spike in number of new listings in April in the GTA, Oakville-Milton, Hamilton-Burlington and Kitchener-Waterloo may suggest that these housing markets have started to cool.



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About CIJnews Staff

CIJnews Staff
CIJnews is an independent, dynamic and reliable online news source that serves the Canadian Jewish and Israeli communities and provides an uncensored platform for the spectrum of voices.

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