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Sales Start Off Strong in 2010
February 3, 2010 -- Greater Toronto
REALTORS® reported 4,986 transactions through the Multiple Listing Service
(MLS®) in January 2010. This result represented a large increase over the
2,670 sales in January 2009 when the home sales were in a recessionary
trough. Last month’s sales were slightly higher than the January average in
the five years preceding 2009.
“The GTA housing market has rebounded well from the lows in sales
experienced at the beginning of 2009. Sales climbed back to healthy levels
across the GTA because the cost of home ownership remained affordable in the
Toronto area,” said TREB President Tom Lebour. “Increasingly confident
consumers moved to take advantage of affordable home ownership.”
The average home selling price in January 2010 climbed 19 per cent to
$409,058, compared to 343,632 in the same month last year.
“Expect strong annual growth rates for existing home sales and average price
through the first quarter as we continue to make comparisons to the weak
market conditions at the beginning of 2009,” said Jason Mercer, TREB’s
Senior Manager of Market Analysis. “The rate of sales and price growth will
be lower in the second half of 2010.”
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