Source: The Star
According to figures released on Tuesday by the Toronto Real Estate Board, cumulative existing home sales in the GTA surpassed last year’s sales (to date) sometime in the first two weeks of August. They reported that in the first two weeks of the month there were 3832 sales, enough to put the year-to-date figure at 54,303 up slightly from the 54, 138 recorded in 2008.
This is somewhat of a shocker as the year started off with sales down by 50% in January. The market started to show positive territory for the first time only in May, rising 2 per cent, before blasting off with an increase of 27 per cent in June and 28 per cent in July.