Excerpted from The Toronto Star
Toronto home sales slide in July
The Canadian Press
Vanessa Lu
TORONTO — The Toronto Real Estate Board says July home sales in the city slipped 1.5 per cent compared with a year ago.
The board says there were 7,570 homes sold last month compared with 7,683 a year ago, as condominium sales slowed.
Board president Ann Hannah says new mortgage lending guidelines and the additional cost of the Toronto land transfer tax prompted some to put their buying decision on hold.
The average selling price in July was $476,947, up four per cent from a year ago.
Board president Ann Hannah says new mortgage lending guidelines and the additional cost of the Toronto land transfer tax prompted some to put their buying decision on hold.
The average selling price in July was $476,947, up four per cent from a year ago.
More: Vancouver home sales hit lowest level since 2000
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