Market Watch 2007
February 5th, 2008New homes up in 2007
Housing in 2007 reached their second highest level in nearly two decardes, according to Canada Mortgage and Housing Corporation (CMHC). The unexpected growth in 2007 for housing was driven by the low mortgage rates which the smart investor took advantage of, solid employment throughout accompanied by income growth and high level of consumer confidence (Orea - Realtor Edge).
New Year 2008 Off To Good Start ?
According to TREB (Toronto Real Estate Board) A strong performance within the Central districts drove the Toronto area real estate market to a healthy 5,073 sales in January of 2008, off just two per cent from last year’s record performance, President Maureen O’Neill announced today (TREB Online - Statistics - Market Watch).
“While sales were strong, price increases remained modest, with the average rising six per cent to $374,449,” said Ms. O’Neill. “There is clearly still a place for the first-time buyer in today’s resale market.” (TREB Online - Statistics - Market Watch).
Breaking down the total, 1,940 sales were reported in TREB’s 28 West districts and averaged $351,594; 945 sales were reported in the 14 Central districts and averaged $485,259; 966 sales were reported in the 23 North districts and averaged $410,289; and 1,224 sales were reported in TREB’s 21 East districts and averaged $296,838 (TREB Online - Statistics - Market Watch).
