(Source: Blog Toronto Real Estate)
The signs are everywhere… both here in Toronto and in the US markets.
Buyers are starting to buy again! The principle is simple.
When the cost of home ownership (combining home prices and mortgage rates) get low enough, people start to see the value of owning compared to renting.
In the US, February sales were up 5% compared to one year ago. In the US Northeast, sales were up 16% and condominium sales overall were up 11.4%. Mortgage rates south of the border are at six-decade lows right now.
Read the original posting at “Discover Why The Toronto Real Estate Buyer’s Market Might Be Over” in Blog Toronto Real Estate (April 4, 2009).