Home Sales Declined in June

July 9, 2010

Photo by Jerry Downs

A decline in home sales! That is what Greater Toronto realtors eported for the month of June. According to the report, there were 8,442 recorded sales through the Multiple Listing Service in the Greater Toronto Area this past month, which is a 23 percent fall from the 10,955 sold homes recorded in June 2009.

However, when comparing the sales during the first half of 2009 and 2010, this year was more successful, as there was a 23 percent increase, to 50,455 units sold. There was also a rise in the average and median price of a home in June. The average price was $435,034, 8 percent up from $403,972 in June 2009. The median price rose from $345,000 to $367,750 during the year.

Just as expected, the housing figures are getting worse and worse. Even the increase in home sales during the first six months of 2009 and 2010 was obviously not caused by June (or even May) sales, but rather by good figures at the beginning of the year.