Toronto home sales plummet 16% in June as potential buyers stay on sidelines: board

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The Toronto Regional Real Estate Board says home sales in June declined 16.4 per cent from last year, with many potential buyers staying on the sidelines despite the highly anticipated Bank of Canada interest rate cut.

A Sold sign sits in front of a house in Toronto on Tuesday July 12, 2022. THE CANADIAN PRESS/Cole BurstonThe average selling price in the Greater Toronto Area was down 1.6 per cent year-over-year to $1,162,167.

Ipsos polling for TRREB indicates that cumulative rate cuts of at least 100 basis points are required to boost home sales by a meaningful amount.'I was freaking out:' Ontario woman shocked to see black widow spider in her groceriesProtesters clear UofT encampment ahead of 6 p.m. deadline: 'We are leaving on our terms'Hurricane Beryl ripped off roofs in Jamaica, jumbled fishing boats in Barbados and damaged or destroyed 95 per cent of homes on a pair of islands in St.

Canadians, Ready Your Carts: Amazon Prime Day Deals Are On The Way Our Guide To The Best Folding Mattresses In Canada In 2024 14 Summer Makeup Essentials That Cost Less Than $25Ireland's prime minister says he's "absolutely appalled" by an assault in the country's capital that resulted in the death of a tourist from Montreal.In Jamaica, people were shopping for essentials and fishermen were bringing boats back to shore as they braced for the worst ahead of Hurricane Beryl.

A search of the grounds of a former residential school in northern Manitoba has uncovered 187 anomalies, according to First Nation leaders.In order to pay what some advocates consider a living wage, a new report says the City of Winnipeg would have to spend more than $3 million more per year.

 

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