Greater Toronto REALTORS reported 3,079 existing home transactions in the first two weeks of December compared to 1,487 in 2008. The strong growth represents both increased home ownership demand and the fact that we are comparing the recovery phase of the sales cycle this December with the contraction phase experienced last winter.

Year-to-date sales, at 84,888, were up 16 per cent compared to the same period last year and have moved in line with the healthy levels experienced in the 2004 through 2006 period.

“We experienced a very strong and broad based recovery in the second half of 2009,” said Toronto Real Estate Board President Tom Lebour. “The rebound in the housing sector speaks to the confidence that households have in overall economic recovery.”

Read the full report, “GTA REALTORS® Report December Mid-Month Resale Housing Market Figures” by the Toronto Real Estate Board (Dec 17, 2009).

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