TREB: November Results
Toronto Real Estate Board (TREB) President Paul Etherington announced today the results of November 2014, which saw an increase of 2.6% in real estate activity over November 2013. Sales over last year are up 6.6%. However, there are some negatives, with fewer listings on the market compared to last year, as well as seeing a decrease in sales in both detached homes, and townhomes.
TREB President Paul Etherington remarked: “Even with a constrained supply of homes for sale in many parts of the Greater Toronto Area, buyers continued to get deals done last month. Households remain upbeat about home ownership because monthly mortgage payments remain affordable relative to accepted lending standards. This is coupled with the fact that the housing market has proven to be a quality long-term investment.”
See infographic below for further details: