Resale market improving in GTA, but analysts don’t see a recovery in short term

After a frigid winter that saw existing home sales plunge dramatically, the Toronto-area housing market continues to experience a fragile spring thaw.

The Toronto Real Estate Board reported 8,107 sales yesterday for April, down 7 per cent from a year ago, but less than the 47 per cent free fall experienced in January.

“Conditions in the resale housing market have improved markedly this spring,” TREB president Maureen O’Neill said.

Read the full article by Tony Wong “Spring thaw lures home buyers” in the Toronto Star (may 7 2009).

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