The "National Post" reports record home sales for April
April was a record month for home sales in the GTA the Toronto Real Estate Board said in a monthly report released today.
Buyers attracted by historically low interest rates have propelled a rebound of the housing market in recent months, with the number of housing sales much higher than expected. The average price reached $437,600, up 13% from the average of $385,641 in April 2009.
The board reported the sale of 10,898 residential properties in April — a 34% increase compared to April 2009. On the supply side, April saw a 59% annual increase in new listings with 20, 683 homes listed.
An analyst with the Toronto Real Estate Board said homeowners are beginning to take notice of the hot prices and are rushing to take advantage while demand is high. Jason Mercer, a senior market analyst with the Toronto Real Estate Board, said the record numbers will not be sustained in the second half of 2010:
“Home sales will remain strong in the second half of 2010, but will slip from the current record pace as borrowing costs rise.”
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http://news.nationalpost.com/2010/05/05/2538/#ixzz0o0pqt7NqCheck Out Some Great Listings In Your Area On RobMills.ca