Well, 'tis the season for buying a low-rise home.

Sales for all home types, except condos, were up briskly in the first week of June, as buyers who wish to close before next school year hit the market in droves. Toronto houses, semi-detached, and townhome sales rose by 20, 51, and 30 per cent, respectively.

The year-over-year picture is also improving, with actual increases noted for Toronto townhouses for sale (+12 per cent), and semi-detached homes (+5 per cent).

Detached home sales were still down seven per cent from the same time frame last year. But this has improved from the 10-per-cent decline recorded last week, and the whopping 35-per-cent difference in the first week of May.

This all points to a levelling playing field, as the impact from the Fair Housing Plan was really starting to take effect this time last year. Year over year numbers are also anticipated to continue to improve, as we’re no longer comparing cooler sales to last year’s market peak.

Real Estate News