Toronto Housing Sales Make Year-Over-Year Gain

Toronto housing sales saw a drop between June and July this year, but the market made a 3.3 percent year-over-year gain, according to Toronto Regional Real Estate Board data. The board said that between June and July, housing sales in the city dropped 1.7 percent, from 5,313 to 5,224. However, sales were up 3.3 percent from this time last year, the report said. “It was encouraging to see an uptick in July sales relative to last year,” board president Jennifer Pearce said in an Aug. 6 news release. Pearce said the growth could be a result of the two Bank of Canada interest rate cuts that were announced in June and July....