Home buyers in Toronto are showing signs of returning confidence this summer.

According to the Toronto Real Estate Board, sales of existing homes were at 5,185 in the first half of June – a 19% rise over the same period last year.

“Households in the greater Toronto area have become more confident in purchasing a home over the past three months,” said TREB president Maureen O’Neill in a release. “Affordability, due in part to very low borrowing costs, has played a key role.”

At the same time, the average price of a home sold through the MLS system in the first half of this month was $407,716, up 2% compared with the same period last year.

Read the full article by Helen Morris “Real estate may be turning us on once again” in the National Post (June 19, 2009).

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