Toronto's real estate market remains hot but shows first signs of cooling.

Home sales for the Greater Toronto Area remained strong in April, but the market is starting to slow from the intense pace seen earlier this year, the Toronto Regional Real Estate Board said Wednesday.

The board revealed 13,663 homes were sold in the region last month, a 362 per cent increase from the 2,957 properties sold in April 2020, which was the first full month of the COVID-19 pandemic.

However, home sales this April were down 12.7 per cent, from 15,652 a month earlier.

While the first three months of the year were full of bidding wars, soaring prices and a mad scramble to snatch up any available homes, Toronto real estate broker Wins Lai said she is seeing conditions cool.

Article via CBC, click here to read more.

Image via Graeme Roy/The Canadian Press.