Mid-January Resale Housing Figures Released by TREB

The Toronto Real Estate Board has released its mid-month housing figures for January 2013, finding that home sales during the first two weeks of January increased by 2.4 per cent over last year, or up to 1,469 from 1,435 homes sold.

Ann Hannah, the president of the Toronto Real Estate Board, said that “The New Year started off on a positive note with residential sales slightly above last year’s levels. I am cautiously optimistic about this result. It will be important to watch sales trends closely as we move through the first quarter to see if some of the households who moved to the sidelines as a result of stricter lending guidelines are starting to renew their decision to purchase a home.”

The average price for homes sold during this time period was up four per cent, to $459,728.

According to the Senior Manager of Market Analysis for the Toronto Real Estate Board, Jason Mercer, “Continuing the trend from 2013, the low-rise segment of the market experienced the strongest price growth as competition between buyers remained quite strong. The average selling price is expected to grow in 2013, but at a slower pace as buyers benefit from more choice.”

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