Market News
Housing Market Charts – TREB – July 2010
Housing Market Charts Along with the monthly Market Watch release, TREB will now be including a series of charts summarizing key residential statistics for the GTA. A pdf version of all charts, including a description of each chart, is available along with individual JPEG files that Members are free to download and insert into their own publications. Download Housing Market Charts :
Market More Balanced in June – Market Watch, July 2010
July 6, 2010 — Greater Toronto REALTORS® reported 8,442 sales through the Multiple Listing Service® (MLS®) in June. This represented a 23 per cent decrease compared to the record 10,955 sales reported in June 2009. Sales for the second quarter of 2010 amounted to 28,810 – up one per cent annually. Year-to-date sales through June were up 23 per cent to 50,455 compared to the first six months of 2009.
“We experienced a record number of existing home sales during the first half of 2010, but these sales were weighted more towards the beginning of the year,” said Toronto Real Estate Board President Bill Johnston. “The pace of home sales has moderated from record levels over the past two months with the prospect of higher mortgage rates.”
The average price for June transactions was $435,034 – up eight per cent compared to the average of $403,972 recorded for June 2009.
“With more homes to choose from in the second quarter, many home buyers have been making less-aggressive offers. This has resulted in less upward pressure on the average selling price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The annual rate of average price growth in the second half of 2010 will be in the single digits.”
Median Price
In June, the median price was $367,750, from the $345,000 recorded during June of 2009.
Download full PDF: Market Watch – July 2010.
TREB – Economic Commentary – May 2010
Summary:
Canadian Housing starts climbed in April, reaching a
seasonally adjusted annual rate of 201,700 units – a 1.3 per cent
increase from the upwardly revised rate of 199,200 units recorded in
March. Multiple-family starts drove the increase, rising 27 per cent to
98,600 units. Single-detached starts dipped 12.7 percent to 83,900
units, breaking an 11-month streak of gains. Within the GTA, starts
rose 25 per cent to an annual rate of 32,800 units. This increase was
also on the back of a strong multiple-family starts.
Download PDF :Canadian Housing Starts April 2010
April Experiences Record Number of Buyers and Sellers – Market Watch April 2010
May 5, 2010 — Greater Toronto REALTORS® reported 10,898 sales through the Multiple Listing Service® (MLS®) in April, representing a 34 per cent increase compared to April 2009. There were also 20,683 new listings in April – a 59 per cent annual increase. Both the sales and new listings results amounted to new records for the month of April under the current Toronto Real Estate Board (TREB) boundaries.
“The GTA resale market is functioning properly. Sales were high as buyers continued to take advantage of affordable home ownership opportunities. Listings grew as home owners reacted to strong sales and price growth,” said Toronto Real Estate Board President Tom Lebour. “More balanced market conditions will result in sustainable rates of annual price growth in the second half of 2010.”
The average price for April transactions was $437,600 – up 13 per cent compared to the average of $385,641 recorded in April 2009.
“Home sales continue to be driven by many different segments of the market, with sales growth for all major home types in both the City of Toronto and surrounding 905 regions,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales will remain strong in the second half of 2010, but will slip from the current record pace as borrowing costs rise.”
Median Price
In April, the median price was $373,000, from the $330,000 recorded during April of 2009.
Market Watch April 2010 – PDF Download
What’s taxable under the HST and what’s not?
The PDF document put out by the Province of Ontario outlines common products and services and how they will be affect by the new HST. I found it to be a very useful reference.
