Cooling Housing Market Seen As Healthy for Toronto CondosAs sales have declined from the historic highs of 2011, which as I have repeated on this blog was a record year for home and condo sales. So there was likely to be some pull back this year, and of course the doomsayers will jump on this as the Apocalypse heading our way. But let's be real, even though sales have dropped off rapidly from 2011, the prices haven't even budged, in fact they are headed up. This is because no one is in a rush to sell, there is no panic here, cooler heads have prevailed. Not only that but there have still been condo launches, successful condo launches, like that of Tridel's Ten York, and Remington and Easton's King Blue which look almost ready to go based on their first month of sales.
Most professional analyst expect that 2013 will be a good year, not stellar like 2011, but likely on the same pace as 2012 which was by historic measures a pretty good year. Just not good, when you compare it to a record year like 2011. There will and still might be some cooling to come, but so long as prices hold, this should be a sign that the market is re-adjusting to it's new circumstances. Also remember that US housing is making a pretty strong comeback this year, as interest rates remain low, and the Federal Reserve continues it's monetary easing policy.
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