GTA REALTORS® report sales up first two weeks of July

TORONTO, July 20, 2009

- In the first two weeks of July, Greater Toronto REALTORS®

reported 4,437 sales up 27 per cent compared to the first two weeks of July 2008. The average

price for these transactions was up four per cent year-over-year to $394,750.

"The resurgence in home ownership demand experienced in the spring has continued into the

summer. Home buyers continued to take advantage affordable market conditions in the first half

of July," said TREB President Tom Lebour. "If the mid-month results carry forward, we may see

the best July on record."

Year-to-date sales, at 45,213 are down four per cent compared to 2008. Average price, at

$384,645 is down one per cent.

"The GTA housing market has held up very well this year given the current economic climate,

especially relative to past economic slow-downs," explained Jason Mercer, TREB's Senior

Manager of Market Analysis.

"The cost of borrowing has been key. With inflation in check, the Bank of Canada has been able

to aggressively lower interest rates - an option that wasn't available in the early 1990s or early

1980s."

taken from TREB

Ernie Arrizza

Ernie Arrizza

Sales Representative
CENTURY 21 Kelleher Real Estate Inc., Brokerage*
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