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Despite Crazy Winter Weather, December Sales Up
Despite the crazy winter weather in December, residential sales were up by almost 14 per cent compared to 2012. Toronto Real Estate Board President Dianne Usher believes that home ownership in the GTA will remain affordable as borrowing costs stay low. The result could be a further increase in sales in 2014.
According to Jason Mercer, TREB’s Senior Manager of Market Analysis, the seller’s market conditions that drove price growth in the second half of 2013 will remain in place in many parts of the GTA. Some neighbourhoods, especially those characterized by low-rise home types like singles, semis and townhomes, will continue to have less than two months of inventory.
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