Toronto home prices reach stratospheric levels as sales plummet

The Building Industry and Land Development Association (BILD) announced its May figures on Wednesday. A total of 2,549 new homes were sold in May, marking a 40 per cent year-over-year decrease and a 26 per cent dip below the ten-year average. Single-family homes, including detached, linked, semis, and towns, were the hardest hit in sales, with just 491 units sold in the region.

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