The board is planning to release additional research this year to contribute to the escalating discussion about housing prices in the city. While TREB recorded 7.5 per cent more sales, 12,794 in all in June, the number of new listings was down 3.8 per cent. “There is no doubt that demand is at a record level, but would-be home buyers continue to face an uphill battle against a constrained supply of listings,” he said. The average price of a home in the Toronto region rose to $746,546 in June, up 16.8 per cent from the same month last year, as the supply of housing continued to decline, according to monthly statistics issued by the Toronto Real Estate Board (TREB) on Wednesday. “As the federal, provincial and local levels of government discuss housing policy in the coming months, issues affecting the lack of supply in the GTA should be of paramount importance,” said TREB president Larry Cerqua.

Source: thestar July 06, 2016 12:11 UTC