Tom Lebour is president of the Toronto Real Estate Board, a professional association that represents 28,000 realtors in the GTA.

(Source: Financial Post)

The first week of December was a good week, economically speaking, for the Greater Toronto Area and Canada more broadly. We had two waves of positive financial news. First, Statistics Canada announced the Canadian economy grew in the third quarter -the first quarter of growth since the third quarter of 2008.

This was followed by encouraging employment numbers. In Canada, a whopping 79,000 jobs were created in November and the unemployment rate dropped slightly. In the Toronto area, we experienced the fourth straight month of job creation. This was the backdrop for another strong report from the Toronto Real Estate Board. November’s existing home sales in the Toronto area were up strongly on an annual basis to 7,446 (up 105% from a depressed November 2008, but within 2% of the total in November 2007), and the average home price climbed 14% to $418,460.

Read Tom Lebour’s full posting “TREB: Home sales jingling along” in the National Post (December 11, 2009).

Developments featured in this article

More Like This

Facebook Chatter