Home > real-estate > Toronto housing numbers out for July!

Toronto housing numbers out for July!

The numbers speak for themselves… Sales down 34% from last year…  as expected

Mid-july housing numbers for Greater Toronto Area

Source: Toronto Real-Estate Board

Average prices for GTA increased 6% to ~$420k from July 2009… just as expected

Here is something that is unexpected… month-over-month prices declined for 2nd month in a row!

May 2010  ~$446k

June 2010 ~435k  (-2.45%) – Click here for June numbers

July 2010 ~$420k (-3.5%) (-5.8% from May 2010)

I have posted charts of yearly and monthly changes for the past 10 years… BUT using the Teranet House Price Index which is the S&P Case/Shiller equivalent of Canada… The Teranet House Price Index has never posted a monthly decline of this magnitude!

If this down trend (if it can be called a trend) in house prices continues, prices will revert to fair value before the end of this year… yes!!

  1. Kya Be
    August 7, 2010 at 12:11 PM

    This is good. Now you can finally get that big house you have been looking for.. for fair value 😛

    I think we might see steeper declines in the coming months. Did you notice the markets yesterday. Sold off on a decent volume but climbed back up on weak volume. Jobless numbers are going up in US and Canada had joblosses as well. Quebec leads but Ontario follows. Somehow I think we might see a nice “correction” in the Canadian RE.

  1. August 10, 2010 at 1:18 PM

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: