Fewer houses are being sold in Toronto but home prices are still on their way up, according to a recent report by the Toronto Real Estate Board.
The report, released Friday, said resale home prices in Toronto went up four per cent in the first two quarters of 2008, compared with homes sold during the same period last year. The average price in the first two quarters of 2008 was $427,198.
In the 905 region, the price of resale homes went up by five per cent to $365,536.
About 8,600 homes changed ownership throughout the region in June, a decline of 18 per cent from the June 2007 total of 10,451.
