Photo: Darren Calabrese The canadian Press
According to the real estate board of Greater Toronto, sales of homes were $ 4606 in may, a decrease of 53.7% compared to the same month last year.
Housing sales in the Toronto area increased in may compared to the month of April, although they still represented less than half of the number of transactions recorded during the same month last year, due to the pandemic of COVID-19.
According to the real estate board of Greater Toronto, sales of homes were $ 4606 in may, a decrease of 53.7 % compared to the same month last year. However, the may sales represented an increase from 55.2 % compared to the month of April.
The average selling price was $ 863 599 $, with an increase of 3% compared to may 2019. The number of new registrations to the sale amounted to $ 9104, a decrease of 53.1% compared to a year earlier, but up 47.5 % on a monthly basis.
According to the president of the real estate board, Michael Collins, if the re-opening phase the economy continues to grow, it is possible that the housing sales continue to improve in the months to come.
For their part, housing sales in the Vancouver metropolitan region have somewhat rebounded in may, but the real estate board of Greater Vancouver has stressed on Tuesday that they remained below historical averages.
The chamber has indicated that 2638 homes had changed hands in may. It was the first time this year that sales exceeded the cap of 2000 properties in a month. These sales were up 44.2% compared to the 1829 homes sold in April, but a decrease of 6.9% compared to 2833 homes sold in may 2018.
The may sales were lower by almost 23 % to the average of sales over 10 years to this month and have reached their lowest level since may 2000.
The number of homes listed for sale in the metropolitan area of Vancouver has also increased by 2.3% between April and may, reaching 14 685, which represents the largest number of properties for sale in the region since September 2014.
The data from the real estate board show that the ratio of sales to active registrations has been on average 18% for all types of properties in the last month. The ratio fell to a little over 14 % for individual homes and is remained at 20 %, or just above, for row houses and apartments.
In general, the analysts expect prices to fall when the ratio falls below 12 %, while a ratio maintained above 20% can raise the price.