Thursday, August 20, 2009

Early Augst Home Sales Suprise Experts

Toronto housing market experts didn't expect the resale market to return so quickly when they had previously forecasted a dramatic slowdown for this year. "Its caught a lot of people by surprise," said Shaun Hildebrand, senior market analyst for the Canada Mortgage and Housing Corp.

In the first two weeks of August, realtors reported 3,843 sales, enough to put the year-to-date figure at 54,303 sales, up slightly from the 54,138 sales recorded in 2008.

The Toronto market started showing positive signs in May then really started to blast off in June and July with continuing upward trends in August.

Read Tony Wong's full article "GTA home sales exceed 2008 place" in the Toronto Star (August 19, 2009)

Wednesday, August 5, 2009

New Condo Sales in Toronto Hit 2,963 Units In the Spring

Sales of new condominiums in Toronto surged in the spring totally 2,963 sold units from April to June up 223 percent from 917 units sold from January to March of this year.

Consumer confidence, low interest rates and first-time home buyers have helped drive the spring market.

"This is certainly better than most people had expected," said Ben Myers, executive vice-president of Urbanation. He said July figures for new condo sales are also expected to be positive, noting "sales seems to be going well."

Read Tony Wong's full article "Sales of New Condos Surge in the Spring" in the Toronto Star (Aug 5, 2009)