Canadian Real Estate News Headlines (July 2nd 2019)
Hello everyone. How are you?
I provide you with Canada’s news headlines for real estate news for today.
Greater Vancouver New Home Sales Drop Nearly 90%
Greater Vancouver real estate sales are dropping incredibly fast these days. Data from MLA Canada, a notable pre-sale marketing firm, shows a big drop in sales in May. Developers are responding to the decline by cancelling or delaying many projects.
Greater Toronto New Home Sales Increase 94% To Highest Level In Over 16 Years
Greater Toronto Area (GTA) new home sales spiked to the highest level in years. Altus Group’s May numbers show it was the highest number of sales in 16 years. Even though the month was higher, year to date sales are still some of the weakest in recent history. The boost in sales are likely due to lowering prices, and first quarter buyers that delayed their purchases.
Jethro Seymour, Top Toronto Real Estate Broker
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