MLS listings across Canada set new records in the average price of $320,333 an increase of 5 per cent for the year. The Canadian Real Estate Association reported that MLS listings started off very slowly but ended 2009 with a large increase when compared to the weak 2009 market affected by the global financial crisis.
As David Letterman once quipped in 2009 "Just where is my money?" After thinking for a moment he said "I think its in China!" Who knows but it was not in Real Estate at the end of 2008 and the beginning of 2009.
The reason for these positive results were low-interest rate and a lack of listings that also pushed up record sales in Ontario, Quebec, Saskatchewan,and New Brunswick except Alberta.
The housing sector continues to lead the domestic economy out from the slowing economy and is forecast to continue the strength into the new year.
The Toronto Housing Market in 2010 should continue in positive territory until the first half of 2010.
