(Source: National Post)

The city’s condominium market experienced a “miraculous” rebound during the third quarter of this year, new data shows, just as luxury home sales also edge higher.

More new condos were sold during that period than in the first two quarters combined, said Ben Myers, executive vice-president of Urbanation Inc., which tracks the Toronto condominium market. And on the resale side, numbers hit a record high.

Mr. Myers called the rebound “nothing short of miraculous,” a sign the recession’s grip on the condo market has eased dramatically.

Read Megan O’Toole’s full article “Expert talks of Toronto condo-sale ‘miracle’” in the National Post (November 4, 2009).

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