December was a very good beginning for Toronto Real Estate with positive news of the Canadian economy growing and encouraging employment numbers. The Toronto Real Estate Board also reported positive results for the month of November with home sales up 105 per cent from a very depressed November 2008. The average resale home price that included more and more Toronto Condominiums was $418,460, an increase of 14 per cent.
Toronto Realtors point out how the housing Market in Toronto and elsewhere in Canada results in more spending that benefits other sectors of the economy.
How Real Estate benefits Toronto and area spending in other sectors of the economy:
- Financial Services like Banks, Mortgage Brokers
- Lawyers
- Renovation and repair services
- Home furnishing retailers
- Moving and storage
- And much more...
The forecast for 2010 by the Toronto Real Estate Board is a more balanced resale market in line with the long-term annual price growth of approximately 6 per cent .
More good news on the economic front and continued growth in the Toronto housing market will bring renewed growth to our Toronto Real Estate market.
