For Sale by Ian Muttoo
I remember writing my latest monthly market report summary a approximately two weeks ago. The April housing statistics were not bad at all, and to see if the following months will be in a similar trend, I was almost counting the days until we get some fresh data from May - I am exaggerating here, of course, but you get the picture. Simply put, I was eagerly waiting for the mid-month numbers to be published. There is no need to wait any longer, the mid-May housing statistics from the GTA have been released!
Greater Toronto Area REALTORS® reported 4,476 homes sold through the Toronto MLS system during the first two weeks of May. If compared to the first half of May 2012, it is a 9.7 per cent downfall. With a 11.4 per cent decline, the City of Toronto in performed worse than the rest of the GTA. The whole news release is available on this link. Before you start getting pessimistic, let me remind you that the month is not over yet, and we should not make assumptions too early. In any case, data from the full month of May are much anticipated.