Monday, January 4, 2010
GTA housing market quickly shook off the recession
When you look at GTA housing prices and sales statistics, it's almost like there had never been a recession.
As 2009 wound down, homebuyers were partying like it was late 2007, which illustrates the V-shaped path the market followed when the recession started to bite in the fall of 2008.
The recession is generally considered to have started in October 2008. For that month, the Toronto Real Estate Board (TREB) reported that GTA sales were down 35 per cent over the same period in 2007.
Toronto average home prices were down 13 per cent over the same period in October 2007, while 905 homes prices declined about eight per cent.
Updated: Sat Jan. 02 2010 10:58:50 AM
Bill Doskoch, ctvtoronto.ca
Click here for complete article...