Re-opening Canada: Toronto’s real estate industry wants to boom again

Article Link: https://torontosun.com/news/local-news/re-opening-canada-torontos-real-estate-industry-wants-to-boom-again

Discussion posted by: IRWeasel

For the Toronto-area real estate industry, the beginning of 2020 was shaping up to be a record-setting year. And then the pandemic happened. According to the Toronto Regional Real Estate Board’s new Real Estate Market Economic Recovery Initiatives document, which will be released next week, real estate sales in the Greater Toronto Area (GTA) dropped 67.1% in April this year compared to the same time last year and was down by 53.7% this May compared to May 2019, but prices have remained relatively stable because the number of listings has dropped in unison with the number of buyers.