This August recorded 12.4% fewer home resales in GTA when compared to August 2011.* TREB attributed the decline partially to the new CMHC mortgage rules introduded in July as well as land transfer tax of Toronto.
* Out of all home type in "416" and "905" areas, townhouse in "905" is the only sector that is more active this year than 2011.
* For the first time this year, the new listings reduced. There were 5.5% less new listings in August as opposed to 12 months ago. "Market conditions remained quite tight... " TREB Analyst.
To read the entire report, here it is.
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