July Housing Market Kicks Off Strong In Toronto

According to an article published in the Financial Post this week the mid-month numbers for the first two weeks of the month are exceptionally strong and show no signs of a slow down in the Toronto market. 

During the first two week period Toronto saw a 35% increase in the number of homes sold and a 9.6% increase in the average selling price for the same time frame last year.

“Low mortgage rates, rising incomes and good news on the job front have kept consumers confident in purchasing a home in the Greater Toronto Area,” said Richard Silver, president of TREB. “In fact, home buyers are much more confident than they were this time last year when concerns around the HST, interest rate hikes and new mortgage lending rules had temporarily put a damper on home sales.” Financial Post: Garry Marr

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