By Nichola Saminather TORONTO, Aug 3 (Reuters) - Home sales in Toronto rose in July from a year earlier for the second consecutive month, following declines in the first five months of 2018, data released by the Toronto Real Estate Board on Friday showed.
New listings continued to slide, while the seasonally adjusted average price rose to its highest level since at least July 2017.
"It appears that some people who initially moved to the sidelines due to (tighter buying and mortgage rules) have re-entered the market," Jason Mercer, TREB's director of market analysis, wrote in an emailed statement.
JULY JUNE JULY 2017 YR/YR PCT CHANGE TOTAL SALES 6,961 8,082 5,869 18.6 AVERAGE PRICE (C$) 782,129 807,871 745,971 4.8 NEW LISTINGS 13,868 15,922 14,122 -1.8 After preliminary seasonal adjustment JULY MTH/MTH PCT CHANGE SALES 7,061 6.6 AVERAGE PRICE (C$) 808,686 3.1 Sales by type of property MONTH YR/YR PCT CHANGE DETACHED 3,062 26.8 SEMI-DETACHED 608 6.1 TOWNHOUSE 1,173 21.9 CONDO APARTMENT 2,002 9.4 Average price by type of property (C$) MONTH YR/YR PCT CHANGE DETACHED 1,004,647 0.5 SEMI-DETACHED 746,843 6.0 TOWNHOUSE 633,993 4.1 CONDO APARTMENT 546,984 8.9 (Editing by Matthew Lewis and Marguerita Choy)