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)