Toronto home prices edge up for first time since February high

Toronto home prices edge up for first time since February high
Toronto home prices edge up for first time since February high

A view shows condominium buildings in the Liberty Village neighborhood in Toronto, Ontario, Canada July 13, 2022. REUTERS/Carlos Osorio

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TORONTO, Sept 2 (Reuters) – House prices in the Greater Toronto Area (GTA) rose, albeit slightly, for the first time in six months in August, alongside a month-over-month sales increase on the ‘other, according to data from the Toronto Regional Real Estate Board (TRREB) showed Friday.

The average price of a home in the area rose to C$1.08 million ($820,981) in August, up 0.4% from July and just under 1% from to the previous year, according to a press release from the TRREB. They were 19% below the peak in February.

On a seasonally adjusted basis, sales increased by 11% and the average price by 2.1% compared to the previous month.

However, the home price index composite fell from July, indicating that the increase in the average price was driven by more sales of more expensive homes, the group said.

($1 = 1.3155 Canadian dollars)

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Reporting by Nichola Saminather; Editing by Jacqueline Wong

Our standards: The Thomson Reuters Trust Principles.

The article is in French

. prices houses Toronto increase slightly for first time since peak february

. Toronto home prices edge time February high

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