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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (29718)	2/21/2008 8:56:32 PM
From: Cogito Ergo Sum	Read Replies (1) \| Respond to of 217661

The start ? *Toronto Real Estate Sales in February Fall 14% from 2007* 11:47 02/21 (CEP News) Montreal – The Toronto area has seen a significant drop in resale home transactions for the first two weeks of February compared to the same period a year ago, the Toronto Real Estate Board reported. The first half of February yielded 2,775 sales in the Greater Toronto Area, down 14% from the 3,240 recorded during the same period in 2007. The moderation was even more pronounced in the City of Toronto, which saw sales fall 18% to 1,066 compared to last February’s 1,308. “It’s important to recognize that the mid-month report provides an indication of market conditions based on a very brief period,” noted Toronto Real Estate Board President Maureen O’Neill. “However, we believe the harsh winter weather we’ve experienced in the early part of the month has had a negative impact on both sales and inventory levels.” The report also noted that the average price of a home in the GTA rose 7% on the year to $385,735 from $358,533 in February 2007. Within the City of Toronto, the average price rose 11% to $434,657. O’Neill noted the real estate board is optimistic sales will pick up in the spring because “the economic fundamentals remain in place.” By Stephen Huebl, shuebl@economicnews.ca, edited by Nancy Girgis, ngirgis@economicnews.ca (END) ©CEP Newswires - ©CEP News Ltd. 2008. All Rights Reserved. www.economicnews.ca Related recent stories: The Black Swan