Greater Toronto home sales fall in May, but Bank of Canada decision could spur demand
A real estate sign is displayed in front of a house in the Riverdale area of Toronto on Wednesday, September 29, 2021.THE CANADIAN PRESS/Evan Buhler
TORONTO -- The Toronto Regional Real Estate Board says home sales in May were down 21.7 per cent from last year, but new listings continued to rise as homeowners anticipate a bump in demand.
The board says 7,013 homes changed hands in the month compared with 8,960 in May of last year, which coincided with a brief market resurgence.
The average selling price in the Greater Toronto Area was down 2.5 per cent year-over-year to $1,165,691.
New listings jumped 21.1 per cent over the same period, with 18,612 properties put on the market last month.
TRREB president Jennifer Pearce says would-be homebuyers, including many first-timers, are waiting for "clear signs" of declining mortgage rates to get off the sidelines, which would also provide relief for the tight rental market.
The Bank of Canada is set to announce its latest interest rate decision this morning, which some economists predict could entail a rate cut.
This report by The Canadian Press was first published June 5, 2024.
CTVNews.ca Top Stories
Flash flooding in B.C. Interior affects at least 20 homes, emergency officials say
At least 20 homes have been affected by flash flooding in the British Columbia Interior following heavy rains that forced the overnight closure of the Trans-Canada Highway near Kamloops.
Fire at gas metering station sparks grass fire that shut Alberta highway
Yellowhead County in west-central Alberta says a fire that prompted the closure of a major highway west of Edmonton involved a gas metering station.
These ultraprocessed foods may shorten your life, study says
Eating higher levels of ultraprocessed food may shorten lifespans by more than 10 per cent, according to a new, unpublished study of over 500,000 people whom researchers followed for nearly three decades.
Eddie Murphy is still stung by that David Spade joke on 'Saturday Night Live'
Eddie Murphy is reflecting on some of the “cheap shots” he feels he’s taken over the years.
If you qualify for this tax credit, you can expect a payment in your bank account this week
The next quarterly GST/HST tax credit payment is expected to go out this week, according to the Canada Revenue Agency.
Judge calls Jeffrey Epstein 'most infamous pedophile in American history' as he releases transcripts
A Florida judge released Monday afternoon the transcripts of a 2006 grand jury investigation that looked into sex trafficking and rape allegations made against the late millionaire and financier Jeffrey Epstein.
U.S. Supreme Court rules Trump has immunity for official, not private acts
The U.S. Supreme Court found on Monday that Donald Trump cannot be prosecuted for any actions that were within his constitutional powers as president, but can for private acts, in a landmark ruling recognizing for the first time any form of presidential immunity from prosecution.
This 12-year-old memorized the periodic table at age two. He's heading to NYU after finishing high school in just two years
Recent high school graduate Suborno Isaac Bari, 12, plans to start studying math and physics at New York University in the fall, but he’s already got his ambitious sights set on beginning a doctoral program.
Possible indecent gesture at Euro 2024 game under investigation
England star Jude Bellingham is being investigated by UEFA over a potentially offensive gesture made during a European Championship win against Slovakia.
Shopping Trends
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
Montreal
-
Nearly 1,300 Quebec families still looking for a home on Moving Day
It's Moving Day on Monday for many Quebecers. However, as anticipated by organizations, July 1 is a difficult day for many tenants, as nearly 1,300 households are still being assisted by a housing search service.
-
Montreal Canadiens sign Juraj Slafkovsky to eight-year contract extension
Juraj Slafkovsky got a Canada Day payday. The Montreal Canadiens signed the forward to an eight-year, US$60.8-million contract extension beginning in 2025-26.
-
Canada Day fireworks: Montreal's Old Port to light up the skies tonight
It's clear skies for Canada Day festivities in Montreal on Monday. Weather conditions will be ideal to take in the evening fireworks display at the Old Port, which is hosting its annual Canada Day celebrations.
Ottawa
-
Ottawa celebrated Canada Day 2024: 'You get to just love the country that you live in'
Residents in Ottawa celebrated big this year as the capital did not fall short on celebrations.
-
Here's what you need to know about Canada Day fireworks in Ottawa
Several events across the city will be hosting fireworks displays as part of their celebrations next Monday, while residents are allowed to host private fireworks displays on June 30, July 1 and July 2.
-
Brockville, Ont. celebrates Canada Day: 'It's really amazing'
The Brockville Pipe and Drum Corp, alongside the Scarlet Clad Infantry Reenactors lead a march down King Street West and up Court House Avenue to celebrate Canada Day in Brockville, Ont.
Northern Ontario
-
Official says security cam photo taken in northern Ont. appears to be a cougar
A viewer sent CTV News Northern Ontario a security camera photo of what appears to be a cougar crossing behind his camp.
-
Sudbury’s Tyler Bertuzzi signs 4-year, $22M contract with Chicago
Sudbury’s Tyler Bertuzzi agreed to a four-year, $22 million contract with the NHL’s Chicago Blackhawks on Monday.
-
Home sales sluggish in North Bay, increase in other northeastern Ont. cities
Home sales in the month of May declined in North Bay in May, the only major city in northeastern Ontario that saw a decline compared to the same month in 2023.
Kitchener
-
Brandon Montour, Stanley Cup champ from Six Nations, signs with Seattle Kraken
Brandon Montour is making a big move fresh off his Stanley Cup win with the Florida Panthers.
-
Canada Day celebrations in Waterloo Region
Canada Day festivities were in full swing Monday. We checked out a few of the July 1 parties across Waterloo Region.
-
Check out these local Canada Day celebrations
The countdown is on to Canada Day! Here’s a quick look at the celebrations happening in your neighbourhood.
London
-
WestJet reaches deal to end strike, but passengers in London still stranded
WestJet has reached a deal with its mechanics to end a strike, but the counter at the London International Airport (LIA) remains dark.
-
Canada Day festivities underway in region, fireworks to come
Canada Day festivities are underway in London, Ont. and around southwestern Ontario.
-
Where to see London and area Canada Day fireworks
To celebrate the holiday, many different firework shows will be on display Monday night.
Windsor
-
Cyclist dies after crash on Lauzon Road
Windsor police say a cyclist has died after colliding with a vehicle in east Windsor.
-
One of Canada’s most wanted fugitives sought after Erie Street shots fired
Windsor police are asking for the public’s assistance locating one of Canada’s most wanted fugitives after gunshots were fired on Erie Street.
-
NHL reinstates Bowman, Quenneville after being banned for their role in Blackhawks assault scandal
The NHL lifted its ban on longtime coach Joel Quenneville and executives Stan Bowman and Al MacIsaac on Monday, clearing the way for their return to the league more than two years after they were punished in the fallout from the Chicago Blackhawks sexual assault scandal.
Barrie
-
Fire breaks out at Simcoe Hotel
Barrie Fire and Police are investigating a Canada Day morning fire at the Simcoe Residential Hotel.
-
How Barrie is celebrating Canada Day
The City of Barrie has a full day of programming for the July 1st festivities.
-
Owen Sound fire, death under investigation
A man was found dead on the scene near an apartment fire in Owen Sound on Sunday.
Winnipeg
-
Some Canada Day celebrations rained out in Winnipeg
A rainy Canada Day is dampening some celebrations around Winnipeg.
-
Heat warning issued in northern Manitoba
A heat warning is in effect in Churchill, Man., with the area expecting to see daytime highs around 30 C.
-
'Very proud and very happy': Looking back at Pride Month in Manitoba
It was a record-breaking year for Pride Month in Manitoba, with thousands of people taking part in more than 15 Pride events across the province.
Atlantic
-
Boil water notice in effect for parts of Halifax, surrounding area
Halifax Water is warning residents there is a possibility of unsafe drinking water in areas within the Halifax Regional Municipality, and are advising its residents to boil all water for consumption and use for at least one minute.
-
Pedestrian dead after being struck by train in Moncton
One person had died after being struck by a train in downtown Moncton, according to RCMP.
-
Canada Day event in Cape Breton sees large crowd despite weather
Thousands came out to Sydney's Centre 200 for the official CBRM Canada Day festivities despite the rainy weather.
N.L.
-
An unknown Newfoundland soldier killed in the First World War is being laid to rest
The remains of a soldier from Newfoundland killed in the battlefields of France during the First World War will be laid to rest in St. John's Monday, bringing an emotional end to a years-long effort in a place still shaken and forever changed by the bloodshed.
-
The small French town where Newfoundlanders were heroes
It was a battle ripped from the pages of a storybook: Ten soldiers held off hundreds of German troops to save a small French village in the First World War.
-
On July 1, 1916, a generation of Newfoundlanders died in one brief battle
Millions are celebrating Canada’s 157th birthday this year -- as they do every year -- with fireworks, food and family. In Newfoundland, it is a day of mourning for one of the bloodiest battles of the First World War.
Edmonton
-
What you need to know about Canada Day fireworks in Edmonton
Canada Day fireworks will go off in the greater Edmonton area at 11 p.m. Monday.
-
Fire at gas metering station sparks grass fire that shut Alberta highway
Yellowhead County in west-central Alberta says a fire that prompted the closure of a major highway west of Edmonton involved a gas metering station.
-
Oilers ink Arvidsson to 2-year contract, re-sign Brown and Perry to 1-year deals
The Edmonton Oilers signed forward Viktor Arvidsson to a two-year, US$8-million contract and gave forwards Corey Perry and Connor Brown one-year extensions among multiple moves the club made Monday.
Calgary
-
Update on Calgary indoor water-use measures expected Tuesday as stabilization work continues
The City of Calgary expects to have an update Tuesday on when indoor water-use reduction measures could be eased as work continues to stabilize the city’s water infrastructure.
-
Calgarians come together for Canada Day
Several events were happening in and around Calgary to get people into the spirt of Canada Day.
-
Sunday storm causes flash flooding in N.W. Calgary neighbourhood
Some parts of northwest Calgary experienced a flash flood on Sunday night, flooding basements and stranding a vehicle.
Regina
-
University of Regina senior education program receives help from book sale
Seniors will again have a full selection of classes to take this fall at the University of Regina. A group of volunteers have taken over the Lifelong Learning Program after the university discontinued funding last year.
-
WestJet mechanics strike ends, travellers in Sask. still experiencing disruptions
Following a tumultuous 48 hours for those relying on air travel over the Canada Day weekend, WestJet is now steadily restoring flights across the country.
-
Regina police renew call to find suspect in armed assault investigation
The Regina Police Service (RPS) released photos of the suspect involved in an assault with a weapon on Friday night in the North Central neighbourhood.
Saskatoon
-
Sask. men who died saving two family members from icy lake recognized with Carnegie Medal
Two Saskatchewan men who dove into icy waters in a bid to save two young girls and a woman who fell through the ice of a frozen lake are being honoured posthumously.
-
Alberta RCMP officer fires pistol in Lloydminster campground after suspect tries to steal occupied RV
Alberta RCMP says one of its officers in the Lloydminster detachment fired his weapon in a public campground after a suspect stole an occupied RV and drove it towards him.
-
Saskatoon crews tackle garage fire on Canada Day
A garage fire in Saskatoon’s Riversdale neighbourhood filled the street with thick, acrid smoke on Monday morning as emergency crews arrived on scene.
Vancouver
-
Flash flooding in B.C. Interior affects at least 20 homes, emergency officials say
At least 20 homes have been affected by flash flooding in the British Columbia Interior following heavy rains that forced the overnight closure of the Trans-Canada Highway near Kamloops.
-
Pedestrian taken to hospital after crash in New Westminster, B.C.
A pedestrian was taken to hospital Monday evening after they were struck by a vehicle in New Westminster, B.C.
-
Small wildfire 'being held' near Spences Bridge, B.C. firefighters say
Crews are responding to a small wildfire discovered south of Spences Bridge, B.C., on Canada Day.
Vancouver Island
-
Flash flooding in B.C. Interior affects at least 20 homes, emergency officials say
At least 20 homes have been affected by flash flooding in the British Columbia Interior following heavy rains that forced the overnight closure of the Trans-Canada Highway near Kamloops.
-
Several WestJet flights still cancelled at Vancouver airport after strike ends
The tentative agreement that ended a days-long strike involving WestJet’s airline mechanics was not reached in time to avoid more travel woes at the Vancouver airport Monday.
-
Brawl erupts at Rick Ross show in Vancouver during Drake diss track
Violence broke out following Rick Ross’s performance at a Vancouver music festival Sunday, with the influential rapper reportedly being attacked during the melee.
