GREATER TORONTO REALTORS® REPORT RESALE HOUSING MARKET FIGURES

TORONTO, May 6, 2014 - Toronto Real Estate Board President Dianne Usher
announced that during April – the first full month of spring – Greater Toronto
REALTORS® reported a 1.8 per cent year-over-year increase in sales through the
TorontoMLS system. Total April 2014 sales amounted to 9,706, compared to 9,535
transactions in April 2013.
“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, a substantial number of GTA residents were able to come to terms on a home
that met their needs. However, sales levels would have been higher, but for the lack of
supply,” said Ms. 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.

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Rajan Sharma

Rajan Sharma

Sales Representative
CENTURY 21 People's Choice Realty Inc., Brokerage*
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