"The New Year started off on a more encouraging note with home sales slightly above last year's levels," recounted Toronto Real Estate Board ( TREB ) President Ann Hannah. "I am cautiously optimistic about this result.
"Continuing the trend from 2012, the low-rise portion of the market experienced the strongest price expansion as competition between purchasers stayed quite strong," expounded Jason Mercer, TREB's Senior Manager of Market Analysis. This result represented an increase of 2.4 percent over the 1,435 transactions reported during the same period in 2012. It is going to be important to watch sales trends closely as we move through the 1st quarter to see if some of the households who moved to the sidelines as a result of stricter lending guidelines are starting to renew their call to get a home."
The average selling price during the first Fourteen days of 2013 was by up by 4 percent on a year-over-year basis to $459,728. "The average selling price is anticipated to grow in 2013, but at a slower pace as purchasers benefit from more choice." .
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