Positve News- From Toronto Real Estate Board
NEWSRELEASE FOR IMMEDIATE RELEASE
2,565 RESALE HOUSING TRANSACTIONS SHOWS RATE OF DECLINE SHRINKINGTORONTO, March 19, 2009 – Greater Toronto REALTORS® announced 2,565 transactions inthe first half of March compared to 3,183 during the same period last year. The annual rate of
MLS® sales decline was the smallest in five months.
Mid-month March MLS® sales increased compared to the 2,044 sales experienced in the first
half of February.
MLS® sales follow a recurring seasonal trend, with transactions generally increasing between
January and May and then decreasing between June and December.
“As we move into the spring market, it appears that we are seeing stronger demand for
ownership housing in the Greater Toronto Area,” said TREB President Maureen O’Neill. “Buyers
are reacting to the market’s strong foundation of affordability.”
The average price for MLS® sales was $365,499 compared to $385,405 last year.
“Affordability has improved over the past few months due to a combination of lower home prices,
near record lows for mortgage rates and rising earnings,”1 according to Jason Mercer, TREB’sSenior Manager of Market Analysis.