Greater Toronto Area home sales plunge 67% in April as COVID-19 pandemic freezes real estate market

TORONTO – The Toronto Regional Real Estate Board reports home sales in the Greater Toronto Area plunged 67 per cent in April as the economic effects of the COVID-19 pandemic put a chill on the housing market.

TRREB says there were 2,975 residential transactions in the GTA in April compared with 9,005 transactions in April 2019.

Sales in the City of Toronto fell nearly 68 per cent year over year, while the average price fell 2.5 per cent, to $881,424 in April 2020 from $904,199 a year earlier.

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On a seasonally-adjusted basis, TRREB said April home prices in the GTA fell 11.8 per cent from March.

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