January 2013 release of Monthly Resale Housing Figures

TREB has just released January 2013 sales numbers, it looks like a good start for 2013 .

GTA REALTORS® Release Monthly Resale Housing Figures

Positive Start to 2013
TORONTO, February 5, 2013 – Greater Toronto Area REALTORS® reported 4,375
transactions through the TorontoMLS system in January 2013. This number
represented a slight decline compared to 4,432 transactions reported in January
“The January sales figures represent a good start to 2013. While the number of
transactions was down slightly compared to last year, the rate of decline was
much less than what was experienced in the second half of 2012. This suggests
that some buyers, who put their decision to purchase on hold last year due to
stricter mortgage lending guidelines, are once again becoming active in the
market,” said Toronto Real Estate Board (TREB) President Ann Hannah.
“It is interesting to note that sales were up for many home types in the GTA
regions surrounding the City of Toronto. This is due, at least in part, to the
additional upfront land transfer tax in the City of Toronto,” added Ms. Hannah.
The average selling price for January 2013 sales was $482,648 – up by 4.3 per cent
compared to $462,655 in January 2012. The MLS® Home Price Index (HPI)
Composite Benchmark price was up by 3.8 per cent over the same period.
“There will be enough competition between buyers in the marketplace to prompt
continued growth in home prices in 2013. Expect annual average price growth in
the three to five per cent range this year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis

Economic Indicators

Real GDP Growthi
Q3 2012 t 0.6%
Toronto Employment Growthi i
December 2012 t 4.5%
Toronto Unemployment Rate
December 2012 u 8.3%
Inflation (Yr./Yr. CPI Growth)i i
December 2012 t 0.8%
Bank of Canada Overnight Ratei i i
January 2013 q 1.0%
Prime Rateiv
January 2013 q 3.0%
Mortgage Rates (Jan. 2013)iv
Chartered Bank Fixed Rates
1 Year q 3.00%
3 Year u 3.65%
5 Year q 5.24%

Sources and Notes:
Economic Indicators
iStatistics Canada, Quarter-over-quarter
growth, annualized
iiStatistics Canada, Year-over-year growth
for the most recently reported month
iiiBank of Canada, Rate from most recent
Bank of Canada announcement
ivBank of Canada, Rates for most recently
completed month

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Lavinia Serbanescu

Lavinia Serbanescu

Sales Representative
CENTURY 21 Heritage Group Ltd., Brokerage*
Contact Me