April's Spring Market Blooms
What a month! April marked the beginning of the spring market, during which time we generally see the highest monthly sales totals in a given year. Despite the persistent shortage of listings, Greater Toronto REALTORS® reported a 1.8 per cent year-over-year increase in sales. Though, sales levels would have been higher, but for the lack of supply noted Toronto Real Estate Board President Dianne Usher.
“A number of factors underlie the constrained supply of listings. Studies and polling suggest that the additional upfront land transfer tax in the City of Toronto has prompted some households to stay put and renovate rather than list their home and move. In the broader GTA context, above trend home sales in the years leading up to the recession have meant that many households who purchased during this period simply aren’t ready to move again,” continued Ms. Usher.
Here’s a quick look at the Greater Toronto Area market report for April. Feel free to share this infographic on Facebook or Google+.
For the full report visit the Toronto Real Estate Board website Market Watch page.
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