March Resale Housing Results Bring Positive News
In March 2009 Toronto Real Estate Board reported 6,171 sales – down seven per cent from March 2008, representing the smallest year-over-year decline in the last five months. The average price for March transactions was $362,052 – down less than fiveper cent from the same month last year.
“The Greater Toronto housing market has stood up very well given the challenging economic times the world has experienced in recent months. In fact, over the past two months, the situation in the housing market has improved.”
The seasonally-adjusted annual rate of sales increased to 65,600 in March – up 36 per cent from the ten-year low reached in January.1 “Sales in March increased at a rate over and above what would be expected from the normal spring-time bump a greater number of households have taken advantage of increased affordability in the housing
marketplace.”
Source: Toronto Real Estate Board