8,491 home sales were reported through the Toronto Real Estate Board MLS in October 2019, continuing the trend of improved year over year sales with a 14 per cent jump from the same month a year earlier. Conversely, the number of properties for sale continued to trend downward with a 9.6 per cent decline in new listings and an 18.8 per cent decline in active listings compared to October 2018. More sales with less inventory resulted in a 5.5 per cent growth in prices averaged across all property types. With the risk of rising interest rates muted, the supply crunch in the GTA continues to impact affordability as the key driver of rising price growth.
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