« Toronto Real Estate Board reports: | Main | Real estate sales forecast upgraded »
Toronto real estate defies reality
Toronto finds itself in a surprising situation: The economy stalled, but house prices didn't.
What happens if you had a recession and housing prices didn't really go down? That's the scenario Toronto could be in by the end of 2009, as economists scramble to revise this year's real estate market forecasts.
Toronto housing economist Will Dunning is forecasting that the average price of an existing home in the Greater Toronto Area will be $378,700 by the end of this year. His previous forecast was for prices to decline to $358,100, or about 5.6 per cent from 2008. That's in line with the estimates of about a 5 per cent decline from most major housing analysts.
"The forecast has been raised substantially," Dunning says. "For the past three months, resale activity has been much stronger than I had been anticipating."
A $378,700 price is spitting distance of the $379,347 average price recorded at the end of 2008. Dunning says this year's average price could surpass last year's.
See article by Tony Wong in the Toronto Star »
August 26, 2009 in Toronto Real Estate Forecast | Permalink
TrackBack
TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c51e453ef0120a51f5f96970b
Listed below are links to weblogs that reference Toronto real estate defies reality:
Comments
How to Be a unhappy Toronto Condo Investor The late Johnny Carson (Tonight Show) once gave a commencement speech to a set of students graduating from Harvard. His speech was titled, “Prescriptions for Guaranteed Misery in Life”
Posted by: uk dissertation help | Sep 8, 2012 3:17:30 PM
I love seeing websites that understand the value of providing a quality resource for free. Can you give me some more information with detail
Posted by: Jaydeep Biswas | Sep 4, 2012 4:50:33 AM
Good post man, just looking around some blogs, seems a pretty nice platform you are using.
Posted by: Window Cleaning | Feb 24, 2012 5:57:22 AM
This is a very helpful post, i hope this really helps me to complete my project.
Posted by: web design delhi | Feb 24, 2012 5:51:15 AM
Hey check out my blog too. I hope i have some interesting stuff too
Posted by: eastern european women | Jun 29, 2011 2:01:11 AM
The comments to this entry are closed.
