Resale activity in the Toronto area remained strong in September, although with a large expansion of listings, price growth has slowed sharply, the latest edition of the Dunning Housing Market Digest reports:

"Expanded resale inventory is clearly hurting the market for new low-rise homes. I expect that there will soon be a slowdown for both Toronto and Canada."

Resale market activity dipped in August. August’s actual sales (6,318) equate to 77,300 seasonally adjusted.
The trend is close to the 80,000 level. In contrast to the health of the resale market, the new homes market has weakened very sharply this year. August actual sales (1,776) equate to 24,500 after seasonal-adjustment, which is the lowest monthly tally in 11 years, the Dunning report concludes. Toronto Luxury Homes reports similar market results.

There are still lot of houses for sale in Toronto. However, condos are becoming more and more important part of the resale market.

For information about housing market in Alberta, visit Calgary Real Estate.

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