GTA Home Sales Down

The Greater Toronto, ON, Area (GTA) housing market had 4,783 residential sales in February, a decrease of 47 per cent compared to 9,028 from February of 2022, the last month before the onset of interest rate hikes. The decline in sales was consistent throughout home type, with detached, semi-detached, townhouses, and condominium apartments all seeing a decline of 47 per cent from sales recorded in February 2022. There were 8,367 new listings for the month, a decline of 40.9 per cent versus 14,153 from the year-ago period. Active listings were 9,643 for the month, a drop of 38.1 per cent compared to 6,984 year over year.