This article is from the Wall Street Journal Blog and is by David George-Cosh. Read the full article here.
A fresh start to the year may be just what the softening Toronto housing market needed.
Mid-month figures for January put homes sales in Canada’s biggest city up 2.5% and prices up 4% compared with the same period in January 2012, the Toronto Real Estate Board said Wednesday.
Those figures appear to buck the softening trend the Toronto housing market has seen over the past year. Just a day ago, Canadian Real Estate Association numbers showed sales in the city sank 21.8% in December from a year ago, while prices climbed 6.0%.
While it may be too early to say if home sales in Toronto are poised to make a solid recovery, the figures are providing market watchers with a dose of cautious optimism.
Read the rest of this article at the Wall Street Journal blog here.