Vancouver top performer in June with sales up 76 per cent
(Source: The Toronto Star)
Toronto’s existing home market surprised economists with a better-than-expected resurgence in June. But a look at major markets across Canada shows that other cities across the country also had a similar — if not more spectacular rebound in that month.
Toronto’s stellar 27 per cent increase in sales in June compared to last year, was outdone by sales in Greater Vancouver and Calgary according to figures compiled by ReMax Ontario Atlantic Canada in a report today.
“More balanced market conditions have emerged, effectively ending the stranglehold that buyers had on the market over the past six to eight months,” said ReMax. “Low interest rates and increased affordability have served to stimulate market activity.”
Read Tony Wong’s full article “Canadian housing market rebounds” in the Toronto Star (July 13, 2009).