Toronto home prices slipped 0.6% to $940,800 in June, a slow sign of market recovery. Despite the decline, sales inched higher over last year, a mixed signal for the market.
What the numbers show
Existing home sales in Greater Toronto climbed 8.4% to 6,770 units in June, while new listings dropped 12.9% to 17,280. Inventory tightened, but prices remain low.
What it means for you
With prices still below peak levels, buyers may find more room to negotiate in the Toronto market. However, sellers may struggle to get the best price for their homes.