Home sales in Toronto skyrocket in July as demand rapidly increases

On Thursday, the Toronto Regional Real Estate Board said that housing sales in the Toronto area reached a monthly record in July as buyers came in strong after a spring lull amid restrictions caused by the pandemic.

The total amount of home sales across the GTA rose 29.5 percent in July from last year and were up 49.5 percent compared to June. New listings also rose 24.7 percent year-over-year, while active listings declined by 16.3 percent.

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