For example, seasonally adjusted home sales were down 18.6% from February, reaching the lowest levels since June 2000.
As for some of the other metro markets, sales in Vancouver are down from last year, although the city hasn’t seen the same supply response compared to Toronto, Rabidoux noted.
“Competition between home buyers in the GTA remains very strong in most neighbourhoods and market segments,” said TRREB Chief Market Analyst Jason Mercer.
“March of 2021 was the highest selling month in our history.
“The month of March has been characterized by a renewed increase in prices, around 17 per cent, for all categories combined, when compared to the same period last year.
“While supply levels have improved from levels seen over the past four months, inventory levels are still well below what we traditionally see in March, thanks to stronger than expected sales activity.