TORONTO, JUNE 16, 2010
Greater Toronto REALTORS® reported 4,139 sales through
the Multiple Listing Service® (MLS®) during the first two weeks of June 2010.
This represented a 20 per cent decrease compared to the 5,185 sales recorded during the same period in 2009. New listings increased by 21 per cent annually to 7,985.
“The pace of existing home sales in the GTA has slowed to more normal levels following a record-setting start to 2010,” said Toronto Real Estate Board President Tom Lebour.
“Due to higher mortgage carrying costs, sales in the second half of 2010 will not be as high as what was experienced during the last six months of 2009.”
The average price for June mid-month transactions was $437,039 – up seven per cent compared to the average of $407,716 recorded during the first 14 days of June 2009.
“The seller’s market conditions experienced during the first few months of the year have given way to more balanced conditions. Home buyers are experiencing more choice,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “With more choice in the market place, price growth is starting to slow.”
Sunday, July 4, 2010
Canadian consumer optimism is up, but so are concerns about rising interest rates...
Canadian consumers have gained more confidence about the economy, although a large majority of them remain concerned about rising interest rates, according to a recent survey.
While 67 per cent of Canadians say they believe the overall outlook of the economy is good, up from 54 per cent last quarter, the exact same number, 67 per cent, indicates they are concerned about rising interest rates, according to the June RBC Canadian Consumer Outlook Index.
In addition, 84 per cent of the survey’s respondents expect to see a rise in the next six months, a 15 percentage point increase from March.
Looking ahead, 55 per cent of Canadians believe the national economy will improve over the next 12 months; however, this figure is down by two points from March as a result of four regional decreases, suggesting there is still concern among Canadians about the sustainability of the recovery.
For instance, the index found that only 34 per cent of Canadians feel their ability to save money for things like retirement or education had improved from three months ago, which is a five-point drop from last quarter.
Thirty-seven per cent indicated they have less money left over after they pay their bills compared to three months ago, and looking ahead to the next three months, 20 per cent remain concerned that this situation will worsen.
On a positive note, only 20 per cent are experiencing job anxiety, down seven points from its height last November.
Still, the index remained flat at 108 points from last quarter.
While 67 per cent of Canadians say they believe the overall outlook of the economy is good, up from 54 per cent last quarter, the exact same number, 67 per cent, indicates they are concerned about rising interest rates, according to the June RBC Canadian Consumer Outlook Index.
In addition, 84 per cent of the survey’s respondents expect to see a rise in the next six months, a 15 percentage point increase from March.
Looking ahead, 55 per cent of Canadians believe the national economy will improve over the next 12 months; however, this figure is down by two points from March as a result of four regional decreases, suggesting there is still concern among Canadians about the sustainability of the recovery.
For instance, the index found that only 34 per cent of Canadians feel their ability to save money for things like retirement or education had improved from three months ago, which is a five-point drop from last quarter.
Thirty-seven per cent indicated they have less money left over after they pay their bills compared to three months ago, and looking ahead to the next three months, 20 per cent remain concerned that this situation will worsen.
On a positive note, only 20 per cent are experiencing job anxiety, down seven points from its height last November.
Still, the index remained flat at 108 points from last quarter.
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