Households in the GTA have become more confident in purchasing a home

June 17, 2009 -- Greater Toronto REALTORS® reported 5,185 transactions in the first half of June – an increase of 19 per cent compared to the same period last year. "Households in the GTA have become more confident in purchasing a home over the past three months," said TREB President Maureen O'Neill. "Affordability, due in part to very low borrowing costs, has played a key role."

June 2, 2009 -- In May 2009, Greater Toronto REALTORS® reported 9,589 sales, up almost two per cent from May 2008 – the first annual increase since December 2007. The seasonally adjusted annual rate of sales in May was 81,3001.

"The resale housing market in the GTA has remained resilient in the face of challenging times globally," according to TREB President Maureen O'Neill. "Many home buyers have taken advantage of extremely low mortgage rates."

The average price for May transactions was $395,609 – down less than one per cent compared to the same month last year.

"The average resale home price has moved in line with last year's level because of tighter market conditions experienced this Spring," stated Jason Mercer, TREB's Senior Manager of Market Analysis. "Home sales have increased strongly relative to new listings, bolstering home prices."