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Market Watch May 2009- Second Month in a Row Increased Sales

For the second month in a row, the Canadian housing market has recorded an increasing number of sales in most areas around the country. Small Pic

"Conditions in the resale housing market have improved markedly this Spring," according to TREB President Maureen O'Neill. "Home purchases have increased as households have taken advantage of low interest rates and slightly lower home prices."

While April sales remained lower than last year, the housing market gained momentum on a month-over-month basis.

Toronto, May 6, 2009: Greater Toronto REALTORS® reported 8,107 sales in April, down 7% from April 2008. While April sales remained lower than last year, the housing market gained momentum on a month-over-month basis. The seasonally adjusted annual rate of sales in April, at 80,900, was up 26% from March and up two-thirds compared to January's ten-year low.

The average price for April transactions was $385,641, down 3% from last year.

Posted by Catherine McGill on May 29, 2009
Tags: Buying a Home buying a new home Cathy McGill first time buyers Home sales housing sales market New Home real estate market Sale of home sale of houses Selling home Selling your home
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