The Toronto Real Estate Board reported a total of 77,426 residential transactions in 2018, a 16.1 per cent decline compared to 2017's 92,263 home sales.
On Oct. 23, 2018, the Ontario government introduced, the Making Ontario Open For Business Act, 2018 – Bill 47. The legislation would repeal significant amendments made in the Fair Workplaces, Better Jobs Act – Bill 148 – passed by the previous Liberal government.
CREA's revised national forecast for home sales activity for 2018 and 2019 finds sales are expected to fall by 9.8 per cent to 462,900 units this year.
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Ontario has introduced legislation to ensure that government contractors in building security, cleaning services and construction will be paid fair wages.
The Canadian Real Estate Association (CREA) has updated its forecast for national home sales activity for 2018 and extended the outlook to 2019.