April stays strong
TORONTO, May 3, 2006 -- The resale housing market remained strong in April
as 8,361 homes changed hands during the month, Toronto Real Estate Board President
John Meehan announced today. The months results represent the third-best
April ever, though activity moderated by five percent compared with April of last
Overall year-to-date sales at the end of the month were nearly five per cent ahead
of 2005s pace, following a record first-quarter this year.
The year began very strongly, Mr. Meehan said. The warm weather
we experienced early on got activity going sooner than usual, effectively moving
the peak spring market forward a few weeks.
Jason Mercer, Senior Market Analyst for the Canadian Mortgage and Housing Corporation,
noted that the Toronto Area market is supported by a healthy economic foundation.
"The April sales results point to near-record demand for ownership housing,
Mr. Mercer said. Because of steady job growth and low borrowing costs, consumers
remain positive about the purchase of a home.
A number of neighbourhoods consisting largely of detached houses were among the
most active in the Toronto Area during the month, compared to April of 2005.
Wilson Heights in North York saw 29 per cent more transactions during the month,
in comparison to April of last year.
Etobicokes South Humber district saw the largest increase in activity compared
with April of last year, as 63 per cent more homes changed hands.
Outside the city, overall sales activity in the Richmond Hill North area was 35
per cent higher than last April.
Active listings are up about four percent indicating a slight shift in what
has been predominately a seller's market, the TREB President said. REALTORS®
who had been employing the marketing strategy of holding off offers to a future
date are now encouraging their sellers to entertain the offers as they get registered.
With interest rates staying low its an excellent time to be in the market
whether you are moving up, moving down or just getting started.
Toronto REALTORS® are passionate about their work. They adhere to a strict
code of ethics and share a state-of-the-art Multiple Listing Service. Its 25,245
listings resulted in Aprils 8,361 sales. Serving over 23,000 Members in
the Greater Toronto Area, the Toronto Real Estate Board is Canadas largest
real estate board.
* Please note that TREB counts by business or sales days.
In a 30 day month, there will usually be about 20 sales days, depending on when
the weekends fall, holidays,
and so on.