Toronto, March 19, 2009
“As we move into the spring market, it appears that we are seeing stronger demand for ownership housing in the Greater Toronto Area,” said TREB President Maureen O’Neill. “Buyers are reacting to the market’s strong foundation of affordability.”
The average price for MLS® sales was $365,499 compared to $385,405 last year.
“Affordability has improved over the past few months due to a combination of lower home prices, near record lows for mortgage rates and rising earnings, according to Jason Mercer, TREB’s, Senior Manager of Market Analysis.
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