Toronto home sales in July down 1.5 per cent from year ago, board says

TORONTO – The Toronto Real Estate Board says July home sales in the city slipped 1.5 per cent compared with a year ago.

The board says there were 7,570 homes sold last month compared with 7,683 a year ago, as condominium sales slowed.

Board president Ann Hannah says new mortgage lending guidelines and the additional cost of the Toronto land transfer tax prompted some to put their buying decision on hold.

The average selling price in July was $476,947, up four per cent from a year ago.