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GTA Home Sales Exceed 2008 Pace
No one has been more surprised by the strength of the Toronto-area resale home market than the experts who had forecast a dramatic slowdown this year.
"We certainly didn`t expect the market to return this quickly," said Shaun Hildebrand, senior market analyst for the Canada Mortgage and Housing Corp. "It has caught a lot of people by surprise."
Well, it`s now official: this year`s cumulative existing home sales surpassed last year`s sales in the first two weeks of August, according to figures released yesterday by the Toronto Real Estate Board.
In the first two weeks of the month, realtors reported 3,832 sales, enough to put the year-to-date figure at 54,303, up slightly from the 54,138 recorded in 2008.
"Sometime in August – we don`t know exactly when – we surpassed last year`s sales," said Jason Mercer, senior manager of market analysis for the board. "We started to see the market come alive in May and it just took off from there."
Read the full article here.
No one has been more surprised by the strength of the Toronto-area resale home market than the experts who had forecast a dramatic slowdown this year.
"We certainly didn`t expect the market to return this quickly," said Shaun Hildebrand, senior market analyst for the Canada Mortgage and Housing Corp. "It has caught a lot of people by surprise."
Well, it`s now official: this year`s cumulative existing home sales surpassed last year`s sales in the first two weeks of August, according to figures released yesterday by the Toronto Real Estate Board.
In the first two weeks of the month, realtors reported 3,832 sales, enough to put the year-to-date figure at 54,303, up slightly from the 54,138 recorded in 2008.
"Sometime in August – we don`t know exactly when – we surpassed last year`s sales," said Jason Mercer, senior manager of market analysis for the board. "We started to see the market come alive in May and it just took off from there."
Read the full article here.