TRREB home sales report for June 2020

TRREB home sales report for June 2020

July 9, 2020

A lot many people were skeptical about home prices during and after the COVID-19 pandemic.

I have been consistently saying, contrary to what self-claimed experts were trying to create a gloomy picture of the market, the market would not crash instead it will be on wheels sooner than later.

With the latest numbers out from Toronto Real Estate Board, the average home selling price last month (June 2020) rose almost 12% up.

While the seasonally adjusted home sales in June 2020 compared to Jun 2019 were down by meagre 1.4%, considering the effects of COVID-19, but it went up by a staggering 84%.

Analyzing the TRREB report shows an upward trend in the coming months, thanks to historically low BOC interest rates.

Adding to the confidence level of the public in getting into the real estate market is the federal government’s generous COVID-19 package to help individuals and businesses cope with challenging times.

Take care of yourselves and follow the safety precautions defined by healthcare professionals.

Please pray for the safety of all and the cure for COVID-19 to be found at the earliest.

#BeSafeAndHelpOthersBeSafe

A. Q. Mufti

Follow the link for full report:

http://trreb.ca/files/market-stats/market-watch/mw2006.pdf