Toronto-area real estate market continues to slow down for third month

 Toronto-area real estate market continues to slow down for third month

For sale sign outside a home in Toronto.

CARLOS OSORIO/Reuters

Along with many people who live in the city, the Toronto-area real estate market appears to be taking a bit of a breather in July. Fewer people are listing their homes for sale, and the languid pace looks set to continue through the summer.

“Things are kind of trodding along,” says Davelle Morrison, a real estate agent with Bosley Real Estate Ltd. “It feels like it’s slow.”

Ms. Morrison says pockets of action still exist: The lively downtown area near King Street West and Bathurst Street is attracting buyers who want to be close to the neighbourhood’s packed bars and restaurants.

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Many single-family homes also still spark competition, but the bidding is not as intense and “days on market” tend to be longer. Altogether, the market remains hot – but buyers are not facing the blast furnace heat they…

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