The Toronto Regional Real Estate Board ( TRREB ) has released its market data for February and, while an extra day will always help with overall numbers, it seems the year's shortest month would have performed well with or without a 29th day. According to the board, some 5,607 GTA home sales were put through TRREB ’s MLS® System in February – a sizeable 17.9% jump compared to the same month last year. (Once the "leap year effect" is factored in, year-over-year sales were up by 12.3%.
) TRREB President Jennifer Pearce chalked the bump in sales up to buyers having found a new level of comfort with interest rates. "We have recently seen a resurgence in sales activity compared to last year. The market assumption is that the Bank of Canada has finished hiking rates. Consumers are now anticipating rate cuts in the near future
Source: News Formal (newsformal.com)
Toronto Real Estate Market Data Home Sales TRREB MLS System Interest Rates Rate Cuts
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