March 17, 2010
In like a lion, out like a lamb is the traditional phrase to describe March weather. But not this March! Ice cream trucks are out, frisbee players have flocked to high park and Trinity Bellwoods, and homebuyers are out too!
Home purchases are up 70% from last March. That’s crazy. Sure, last March was during a recession, but that’s still a lot! SEVENTY percent.
Prices have increased as well! The average price for transactions was $440 153. That figure is 20% higher than last March.
But buyers, don’t despair. New listings also increased 34% over March 2009. TREB’s senior manager Jason Mercer said:
Look for double digit price increases to cease later in 2010, as new listings rebound from the low levels experienced in 2009…[i]ncreased listings will give buyers more choice, resulting in less upward pressure on home prices. Yourhome.ca