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05
No Slowdown in December > Toronto Market Still Hot
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05
No Slowdown in December > Toronto Market Still Hot
The Toronto Real Estate Board (TREB) announced yesterday the Resale Housing Sales figures for December 2006 grew by 4% over same month sales in December 2005. This helped bring the 2006 year end results to within 1.2% of the record setting 2005 Sales Year.
According to TREB president Dorothy Mason, December’s results shows consumer confidence in the Toronto Housing market is still very strong.
“All year long the market has remained very stable,†Mrs. Mason said. “December’s strong showing gives consumers even more confidence that there is a solid foundation in place as we begin the new year.â€
Furthermore, Ms. Mason’s position is that mortgage rates remaining favourable, as well as strong job growth will continue to have a positive effect in the upcoming year.
“Households remained confident in their ability to purchase a home last year,†said Mr. Mercer. “Furthermore, steady job growth in a number of different sectors and very low mortgage rates will keep buyers upbeat about home ownership in 2007.”
A noticeable effect of the rather warmer than usual seasonal weather and the lack of snow in December has helped the market stay strong. With spring like conditions, more home owners have been motivated to both sell their house and to look for houses to buy. This has helped alleviate some of the slowdown generally experienced during the holiday season.
For more information on TREB’s Market Watch, feel free to download the most recent reports: (Adobe PDF Format) 
For more information, contact Radu Medan today for a consultation.
Radu Medan
Sales Representative
Coldwell Banker Case Realty, Brokerage
416.250.9000
rmedan@trebnet.com
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January 5th, 2007
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