Market Watch.
TORONTO, February 4, 2009 – According to TREB president M.O'Neill, there are opportunities at any point in the housing market cycle.
“Moderated housing prices combined with low interest rates could present excellent long-term investment and homeownership opportunities in the GTA housing market,” noted TREB PresidentMaureen O’Neill.
”REALTORS® can help potential home buyers and investors identify value in today’s market.”Greater Toronto REALTORS® reported 2,670 sales in January compared to 5,075 in the first month of 2008.
“Demand for existing homes in the GTA moderated as the housing market followed the broader economic slowdown in Canada,” said Jason Mercer, the TREB’s Senior Manager of Market Analysis.
The average home price in the GTA was $343,632, compared to $374,449 last January. The median price was $303,000 compared to $319,000 last year. “Current selling prices are a reflection of more choice in the existing home marketplace,” said Mercer.
“At the same time, low mortgage rates have helped keep ownership housing an affordable option. Given that we are not facing an early-1990s-style affordability crisis, the rebound in the housing market will likely be quick once economic recovery takes hold,” added Mercer.
HOT TOPIC / TOPIC OF THE MONTH
LAND TRANSFER TAX REBATE FOR FIRST TIME BUYERS
This is incredible news for first time buyers who are buying a re-sale home or condo. The Provincial Government has announced that it is expanding the PROVINCIAL land transfer tax rebate for first-time buyers to include re-sale housing! For more information go to my Buyer’s Resources section.
Make the Right Move. Consult Natalie Korchuk - Working with You and for You!
TORONTO, February 4, 2009 – According to TREB president M.O'Neill, there are opportunities at any point in the housing market cycle.
“Moderated housing prices combined with low interest rates could present excellent long-term investment and homeownership opportunities in the GTA housing market,” noted TREB PresidentMaureen O’Neill.
”REALTORS® can help potential home buyers and investors identify value in today’s market.”Greater Toronto REALTORS® reported 2,670 sales in January compared to 5,075 in the first month of 2008.
“Demand for existing homes in the GTA moderated as the housing market followed the broader economic slowdown in Canada,” said Jason Mercer, the TREB’s Senior Manager of Market Analysis.
The average home price in the GTA was $343,632, compared to $374,449 last January. The median price was $303,000 compared to $319,000 last year. “Current selling prices are a reflection of more choice in the existing home marketplace,” said Mercer.
“At the same time, low mortgage rates have helped keep ownership housing an affordable option. Given that we are not facing an early-1990s-style affordability crisis, the rebound in the housing market will likely be quick once economic recovery takes hold,” added Mercer.
“Moderated housing prices combined with low interest rates could present excellent long-term investment and homeownership opportunities in the GTA housing market,” noted TREB PresidentMaureen O’Neill.
”REALTORS® can help potential home buyers and investors identify value in today’s market.”Greater Toronto REALTORS® reported 2,670 sales in January compared to 5,075 in the first month of 2008.
“Demand for existing homes in the GTA moderated as the housing market followed the broader economic slowdown in Canada,” said Jason Mercer, the TREB’s Senior Manager of Market Analysis.
The average home price in the GTA was $343,632, compared to $374,449 last January. The median price was $303,000 compared to $319,000 last year. “Current selling prices are a reflection of more choice in the existing home marketplace,” said Mercer.
“At the same time, low mortgage rates have helped keep ownership housing an affordable option. Given that we are not facing an early-1990s-style affordability crisis, the rebound in the housing market will likely be quick once economic recovery takes hold,” added Mercer.
HOT TOPIC / TOPIC OF THE MONTH
LAND TRANSFER TAX REBATE FOR FIRST TIME BUYERS
This is incredible news for first time buyers who are buying a re-sale home or condo. The Provincial Government has announced that it is expanding the PROVINCIAL land transfer tax rebate for first-time buyers to include re-sale housing! For more information go to my Buyer’s Resources section.
Make the Right Move. Consult Natalie Korchuk - Working with You and for You!
