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Home Prices Up, Inventory Down
While home ownership in the Greater Toronto Area remains affordable, many buyers had difficulty finding a home this January in comparison to last year. New listings entered into the system were down by 16.6 per cent and sales down by 2.2 per cent in comparison to January 2013.
“Looking forward, it is possible that strong price growth, and therefore an increase in home equity, will act as a trigger for more households to list their homes for sale. This is especially the case for households whose life styles are changing, including those with an expanding family looking for a larger home or empty nesters looking to downsize,” said Dianne Usher, President, Toronto Real Estate Board.
Here’s a quick look at TREB's January 2014 market report. Feel free to share this infographic on Facebook or Google+.
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