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In June, 9,061 sales were reported through the TorontoMLS system. Total sales dropped less than one per cent compared to June 2012. Meanwhile, the new listings are down by a greater percentage than sales.

The average selling price June was $531,374, representing an increase of 4.7 per cent from $507,342 in June 2012. The price increase was mainly driven by Detached and Semi-Detached market portions.

According to Dianne Usher, the president of the Toronto Real Estate Board, a lot of homebuyers who put their home purchase decision on hold due to the stricter lending rules were starting reactive. Therefore, the home sales for the second half of 2013 are expected for renewed growth.

Source: Toronto Real Estate Board

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