For Sale real estate signage outside a Toronto home on Feb. 6, 2024. Photo by Peter J. Thompson/National Post

Home sales in Toronto fell nearly 16 per cent in November compared to a year ago as buyers attempt to wait out economic uncertainty, though there are some positive signs in the recent data.

Overall, realtors in the Greater Toronto Area reported 5,010 home sales in the month, down 15.8 per cent from last year, while new listings were also down four per cent year over over, according to data from the Toronto Regional Real Estate Board (TRREB).

The average selling price for the month came in at $1,039,458, which represents a year-over-year decline of 6.4 per cent.

TRREB President Elechia Barry-Sproule said the uncertain economic times have many Toronto buyers waiting on the

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