The Toronto Real Estate board announced Thursday that February continued to break home sale records across the GTA. The number of transactions this Feb. compared to 2015 was up a whopping 21.1% bringing the Home Price Index up 11.3% over last year.

There is an obvious shortened supply of houses in the GTA and an increasing demand which will continue to drive prices up. A quote from the Toronto Real Estate Board president Mark McLean recently, "Don't wait to buy, buy and wait".

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http://www.trebhome.com/market_news/release_market_updates/news2016/nr_market_watch_0216.htm