Yet another proud reason to be Canadian (Or at least Torontonian):
House sales in July were up 35% over the same time last year. This means we had 3,609 sales this year, as opposed to 2,672 last year. The average house price was $464,277 – up 9.6% (Last year was $423,773).
According to TREB, this is due to low mortgage rates, rising incomes and good news on the job front. I think it was that massive lottery we won last year and split evenly (What? you didn’t hear about that? Guess you should have put your $2 towards our group ticket instead of buying that candy bar).
Check it out:
http://www.torontorealestateboard.com/consumer_info/market_news/index.htm
