TORONTO — The Toronto Regional Real Estate Board says home sales in July were up from last year but down from a month earlier, despite a jump in listings.
The board said Tuesday there were 5,391 homes sold in July in the Greater Toronto Area, down about 13 per cent from June, when 6,202 properties changed hands.
"Although the monetary easing cycle has now begun, interest rates remain in largely restrictive territory," National Bank of Canada economist Daren King said in a note to clients. New listings totalled 16,296 in July, up 18.5 per cent from last year. Listings growth outpaced sales on a year-over-year basis.
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