Real estate sales continue to recover from last year’s slump, with activity up by double digits for most home types.

Demand is notably improved for detached houses as well as semi-detached — the hardest hit following the introduction of last year’s Fair Housing Plan — which saw year-over-year sales soar by 29 and 52 per cent.

That’s up from the tepid improvements noted last week, which clocked in at just nine per cent and five per cent, respectively.

Townhouse sales also rose a whopping 57 per cent, compared to 32 per cent last week, while condos rallied seven per cent, up from four.

That the year-over-year snapshot is looking rosier indicates overall market conditions are stabilizing from the onslaught of new policies introduced last year.

From a short-term perspective, however, June is still shaping up to be the strongest month of the spring/summer market, with sales down 29 to 37 per home segment. This slowdown that can be attributed to seasonality, as July typically sees fewer active listings — and buyers — as summer vacation sets in.

Real Estate News