More Toronto-area homes
changed hands during the month of May than in any other previous single
month. The 9,434 transactions that took place during the month were two
per cent higher than last May and nearly two per cent above the
previous monthly record of 9,275 sales set in June 2004.

 

“This result is very positive
for a number of reasons,” Toronto Real Estate Board President John
Meehan says in a news release. “We are seeing strong sales totals, yet
the pace is very steady and controlled, which is a good sign.  This speaks to the overall health of the GTA housing market.”

 

Ted Tsiakopoulos, regional
economist for the CMHC, says, “Record resale volumes in May suggest
that consumer confidence remains strong. A steady pace in home price
appreciation, modest rate hikes and rising incomes have kept housing
demand healthy across the GTA.”

 

Meehan says: “Consumers
understand that this is a market with a strong foundation, and that
there is a lot of choice out there for established homeowners and
first-time buyers alike.”

 

For a full market report, click on the Details button below.

NO COMMENTS

Leave a Reply