Home sales in Toronto slowed in mid-March due to COVID-19: TREB


The Toronto Regional Realty Board says that home sales were solid in the first half of March, but then began to slow due to the COVID-19 pandemic.

Sales of 8,012 homes for the month represented a 12.3% increase from last year.

The board says home sales are up 49% in the first two weeks from last year, but sales are down 15.9% from last year for the rest of the month.

Chairman of the Board Michael Collins said physical distancing and economic uncertainty have caused the market to slow.

New month-to-month registrations increased 3% to 14,424, but registrations fell 18.4% in the second half of the month from a year ago.

The board reports that the average selling price in March increased 14.5% to $ 902,680, while the average selling price in the second half of the month increased 10.5%.


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