Within the first 2 weeks of July, TREB recorded more home resales in the GTA than in the same period last year. This merits attention, as for the past 6 months, there were less monthly GTA home resales in 2013 than the corresponding months in 2012.
Some notes to be considered:
* While there was 2% increase in resales, there was also a 2% drop in new listings.
* The average home resale price was $510,819 during this period, representing a 8% increase from the same 14 days in 2012.
What's the market outlook? We have yet to find out.
However, TREB's analyst Jason Mercer "expect(s) a faster pace of average price growth in the second half of 2013 compared to the first six months of the year. The strong demand and shortage of listings for low-rise home types in some neighbourhoods will continue to be the driver of price growth."
For the original article, please visit TREB's website.