Early numbers hint at larger decline in GTA home sales expert

Toronto"s suddenly dipping housing market appears poised to decline at a higher rate, according to early June numbers from one real estate expert.

John Pasalis, president and broker at Realosophy, says early sales numbers for the month continue to trend downward, indicating a potentially sharper drop in the Greater Toronto Area than the 20.3 per cent dip reported year-over-year in May. Overall, the numbers indicate Toronto"s once skyrocketing housing market is coming back to Earth under new provincial taxation rules on foreign buyers.

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