The Canadian housing market has rebounded well from the lows in sales experienced at the beginning of 2009. Sales climbed back to healthy levels across the country because the cost of home ownership remained affordable in most areas.
Compared to last January, the market has returned to balance. Increasingly confident consumers moved to take advantage of the affordability created by lower interest rates.
“Expect strong annual growth rates for existing home sales and average price through the first quarter as we continue to make comparisons to the weak market conditions at the beginning of 2009,” said Jason Mercer, Toronto Real Estate Board’s (TREB) Senior Manager of Market Analysis. “The rate of sales and price growth will be lower in the second half of 2010.”
Ontario - Sales start off strong in 2010
Toronto, February 3, 2010 - Greater Toronto REALTORS® reported 4,986 transactions through the Multiple Listing Service (MLS®) in January 2010. This result represented a large increase over the 2,670 sales in January 2009 when home sales were in a recessionary trough. Last month’s sales were slightly higher than the January average in the five years preceding 2009.
“The GTA housing market has rebounded well from the lows in sales experienced at the beginning of 2009. Sales climbed back to healthy levels across the GTA because the cost of home ownership remained affordable in the Toronto area,” said TREB President Tom Lebour. “Increasingly confident consumers moved to take advantage of affordable home ownership.”
The average home selling price in January 2010 climbed 19% to $409,058, compared to 343,632 in the same month last year
No comments:
Post a Comment