Housing demand dropped in July compared to the previous year, but still remains above average for the season in 2021.
There were 9,390 home sales in the city last month, down 14.9% compared to July 2020. Sales were also down 2% month-over-month, according to the latest TRREB report.
Although sales were down, home ownership still remained well above the average for this time of year. According to TRREB president Kevin Crigger:
“Demand for ownership housing has remained strong despite a pandemic-related lull in population growth. Of specific note is the condominium apartment market, which has seen a marked turnaround in 2021 with sales up compared to last year. First-time buyers, many of whom were slower to benefit from the initial recovery…