While only the second-best September on record, the Toronto Real Estate Board is reporting September resales up 4% from the same month last year. With year-to-date sales up 9% and 12% from 2005 and 2006, respectively, 2007 is being forecasted to be a record breaking year.
Nonetheless, analysts are pointing to signs of a slowdown in 2008, with housing starts trending down and a declining number of respondents contemplating home improvements in the next 12 months.
Sources:
- Home resales set for a record (The Star)
- September resale market shows strength (Toronto Real Estate Board)
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