New listings ↓~18% in Toronto as analysts cite sellers waiting out falling prices.
Toronto sales ↓~6% to ~4K, while new listings fell faster.
Prices kept sliding: Toronto avg. ~$1M, yearly ↓~7%.
Sales have fallen yearly for 5 straight mo; boards expect continued chill, though fewer listings could boost competition.
Toronto condos lagged: sales ↓~12%, prices ↓~9%; recovery may take years.
Sales are up and listings are shrinking. Is now the time to buy a home in Toronto?
Canadian home sales rose 5.5% month-over-month in May, marking the first significant increase this year. In the Greater Toronto Area, sales increased 6.3% year-over-year, while average home prices fell 4.6% to about $1.07 million. Buyers...
