Sales continue to slow into November, with fewer homes exchanging hands over the period between the 7th and the 13th of the month across all home types. The longer-term picture is more of a mixed bag, though, as demand rallied for certain segments and plunged for others. Detached houses for sale, for example, improved 7 per cent month over month, though posting a flat 1-per-cent uptick from 2017. Townhouses, which can see greater volatility due to overall lower inventory, had the strongest week, up 13 per cent on both a monthly and yearly basis.
Sales fell by double digits for both semi-detached homes and condos in Toronto, however, plunging -13 and -16 per cent month over month, and -29 and -31 per cent year over year, respectively. A slowdown in sales is typical at this time of year—expect the trend to continue as the weather chills and the holiday season grows closer.
