GTA May Resale Housing Sales Higher Than Last Year

TORONTO, June 3, 2009 – In May 2009, Greater Toronto REALTORS® reported 9,589 sales,
up almost two per cent from May 2008 – the first annual increase since December 2007. The
seasonally adjusted annual rate of sales in May was 81,3001.

“The resale housing market in the GTA has remained resilient in the face of challenging times
globally,” according to TREB President Maureen O’Neill. “Many home buyers have taken
advantage of extremely low mortgage rates.”

The average price for April transactions was $395,609 – down less than one per cent compared
to the same month last year.

“The average resale home price has moved in line with last year’s level because of tighter
market conditions experienced this Spring,” stated Jason Mercer, TREB’s Senior Manager of
Market Analysis. “Home sales have increased strongly relative to new listings, bolstering home
prices.”

may-2008-treb-update

Source: TREB (Toronto Real Estate Board)

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