Posted on: 03-06-09 00:01:01
After a lot months with negative news, May brought some positive cheer to the Real Estate market in the GTA.
Overall sales were 9859 sales we up again for the second straight month compared to 9411 sales in May 2008 (Source: TREB). Inspite of the growth in the sales, the prices in 905 & 416 region were both off by close to 1% when compared to May 2008. Record low mortgage rates were deemed to be the reason for this sudden jump in the sales volume. What needs to be seen though is whether this growth can be sustained in the coming months with GM & Chrysler going in for Bankruptcy protection. And while we are at the positive end of the news, let us celebrate Magna’s deal with Opel to build cars. Now if they could really match German or Japanese quality, wont that be good!!
For the ones who would like to attain "paralysis through analysis", here is the link to MarketWatch
http://www.torontorealestateboard.com/consumer_info/market_news/mw2009/pdf/mw0905.pdf
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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK
