'The supply of listings hasn't kept up:' GTA home prices reach their highest level in a year

The Toronto Regional Real Estate Board (TRREB) reported 9,012 home sales in May, a 24.7% increase from the same period a year prior, while new listings decreased by 18.7%. Most of the properties bought were detached homes, followed by condo apartments, townhouses, and semi-detached. The average price of a detached home in the GTA last month was $1,556,566, while the average price of a condo apartment saw a three per cent decline to $748,483. TRREB Chief Market Analyst Jason Mercer said that increased demand for housing, due to borrowing costs,

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