TORONTO — The Toronto Real Estate board has tallied 2,670 home resales in January, down 47 per cent from a year earlier, and reported Thursday that the average price declined eight per cent.
Meanwhile, the number of rentals through realtors has surged 30 per cent.
"Demand for existing homes in the Greater Toronto Area moderated as the housing market followed the broader economic slowdown in Canada," commented Jason Mercer, the real estate board's manager of market analysis.
