Housing regulations hits GTA real estate agent activity

Real estate agents and brokers have been impacted by provincial housing regulations in the Greater Toronto Area.

The GDP data released Friday by Statistics Canada shows that following a 0.6% decline in real estate agent and broker activity in April, there was a 6.3% decline in May.

The overall real estate and rental leasing sector declined 0.2% in May. Construction was down 0.6% in May, as a strike in the last week of the month affected unionized construction workers in Quebec.

Overall growth for the Canadian economy was up 0.6% led by goods-producing industries.

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