Toronto New Condo Market Sales Were down 32% in August 2012Looks like the trend in downward sales is continuing... latest article with the bad news has been quoted below.
More information has been posted at the Toronto Real Estate Board
MLS Listings
September 18, 2012 -- Greater Toronto Area (GTA) REALTORS® reported 2,544 transactions through the TorontoMLS system in the first 14 days of September. This result was down by 15 per cent compared to the 2,995 sales reported during the same period in 2011.
“The combination of stricter lending guidelines, rising home prices and the added upfront cost associated with the land transfer tax in the City of Toronto resulted in a slower pace of sales during the summer of 2012 compared to a year ago,” said Toronto Real Estate Board (TREB) President Ann Hannah.
Toronto Real Estate Board Press Release
Guess, it's time to start worrying, but we'll know for sure when September's numbers are in.
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