TORONTO HAS RECORD SALES FOR JUNE

The Toronto Real Estate Board reported record sales for June, up 27% from June of 2008. Sales were also up 14% from May. And condos outpaced these numbers. But you already knew that would happen if you had been following our Blog!

Where do we go from here? We can tell you that sales will back off from June over the summer but they will remain strong and much higher than in 2008.

But what about the fall market? Last year, the market 'tanked' to put it nicely in October due to a lack of consumer confidence and heavy negative press from the doomsayers. At the time, we said the underlying economic factors were fine but people did not believe us. Well the same thing is true today - maybe a little more unemployment but people believe that we will soon be starting to emerge from the recession. But this year we also have a couple of extra benefits for our market. First there are lower mortgage interest rates and secondly the dollar stimulus from all governments has yet to reach the pavement - just talk so far. So whatever trickles down will be a bonus too. Thus we feel confident in saying that the fall market will be much better than last year! It will also be a little slower than July and August of this year. But who's complaining!

Subscribe to our Monthly Market Reports