Home Sale Toronto Conditions Remained Tight To Support Higher Home Prices
Saturday, 2. October 2010 9:41 | Autor:kristina
The recent reports revealed that 6,232 sales happened through the Multiple Listing Service in August 2010, which represented a 22 per cent decrease compared to the 8,035 sales recorded during the same period in 2009. New listings in real estate for sale Toronto has decreased by one per cent year-over-year to 10,488.
Toronto Real Estate Board President Bill Johnston said that the prospect of interest rate hikes and new mortgage lending rules prompted some households to buy home Toronto sooner than they otherwise would have this year. The result has been a larger than normal dip in sales over the summer months. However, sales on the year were eight per cent higher than in 2009 and the average price for August transactions was $411,012 – up six per cent compared to the average of $387,921 reported in August 2009.
Jason Mercer, TREB’s Senior Manager of Market Analysis stated that home sale Toronto conditions have remained tight enough to support higher home prices in comparison to last year. Market conditions and the affordability picture would have to change dramatically before a sustained drop in the average selling price would take place.
Thema: Real Estate | Kommentare (0)
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