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Listings Down - Sales Up in May
May marked the peak of the spring market when the number of sales and average selling prices are usually the highest. This May was no different. In fact, it was a new high with report sales of 11,079 – up 11.4 per cent compared to 9,946 sales reported in May 2013. This coupled with a lack of listings increased competition between buyers and price growth well above the rate of inflation, especially for singles, semis and townhomes. Despite this strong price growth, borrowing costs have remained at or near record lows over the past few months.
Here’s a quick look at this months’ sales numbers for the Greater Toronto Area. 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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