The Toronto housing market is closing 2020 in a way that feels well-suited to the year: some highs, some lows, and not a whole lot of clarity on what’s to come. (adsbygoogle = window.adsbygoogle || []).push({});> According to the newest report from RBC, the entire country saw strength in its housing market throughout November, except for in one area — downtown condos in large urban areas. It’s easy to imagine, then, that the City of Toronto’s data presents as a combination of “on fire” and “flailing.” Despite the return to lockdown-status in Toronto and Peel region, the month saw GTA resales rise 24.3% year-over-year, with the MLS Home Price Index (HPI) up 10.6% during the same period. The 416-region specifically is described as “both hot and lukewarm,” with sales of single-family homes up 24% year-over-year, while condos sales were “flat.”READ: Year-Over-Year Condo Prices in Toronto Decline for the First Time Since April But the real difference, RBC says, is inventories. Active detached-home listings are sitting some 13% below year-ago levels
