Industry News

Near-record real estate sales heat up Toronto

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The resale housing market in Toronto, Canada, recorded the second-highest number of transactions ever in the month of July, the Toronto Real Estate Board reported. With 7,387 single-family homes transacted last month, sales were up 1 percent over the 7,329 sales recorded in July 2004, TREB President John Meehan said. Neighborhoods outside Toronto's city center showed some of the strongest numbers for the month. In Richmond Hill, sales of detached homes fueled an 18 percent gain over July 2004, with its North area seeing an increase of 21 percent. In Mississauga, North Cooksville and Northwest Cooksville each showed gains of 33 percent over July 2004, the latter buoyed by strong condominium sales near Mississauga's city center. Strong condo sales also contributed to a 15 percent increase in transactions over last July in North York, where condos are the most popular housing type. "Robust activity in the condominium sector is making believers out of those who were skeptics and ...