The May numbers for the Toronto Regional Real Estate Board were released last week and, as anticipated, the raging inferno we’ve been witnessing in the Toronto market appears to have given way to a steady burn.
And thank goodness — we’ve been begging for a little moderation to return to the market and it would seem that our wish has been granted.
With just shy of 12,000 sales in the month of May, sales declined by almost 13% from April and over 23% from March. Nothing sudden or abrupt, just a slow and steady loss of the momentum that powered us through the pandemic and drove our market to its peak in March.
When you think about where we were last May, just weeks into the pandemic, it should come as no…