Thursday, May 3, 2012

WOW 9% year over year in price

The Great Smoking Man nails another one out of the park. I'm better at calling markets than god. Read my posts from the fall.

GTA sales up Over 18 % 22% in single detached homes like mine.

Oh bubble heads where is your fat lady, she's not singing anytime soon. The only song you will here is the machine ramp ping up the bubble talk, but clearly the herd aint paying attention.  After the a few months when prices seasonally drop, The crash is coming the crash is coming. Carney spikes a 1/4 and the herd retreats for a bit, then Next spring they say aw screw it lets buy.

Why am I so good. Cause I just am.
No belief system no bias, just amazing powers of observation, Analyse and React .

It's so easy for the un schooled.

Here is the cake. Kids take two bites.

Market Remains Tight with Sales Up in April
TORONTO, May 3, 2012 –  Greater Toronto REALTORS® reported 10,350 transactions
through the TorontoMLS system in April 2012.  This level of sales was 18 per cent
higher than the 8,778 firm deals reported in April 2011.  The strongest sales growth
was reported in the single-detached market segment, with transactions of this home
type up by 22 per cent compared to a year ago.
“Interest in single-detached homes has been very high, both in the City of Toronto
and surrounding regions.  Growth in single-detached listings has not kept up with
demand, which means competition between buyers in this market segment
increased.  With this in mind, it was no surprise that the strongest annual price
increase was also experienced in the single-detached segment,” said Toronto Real
Estate Board President, Richard Silver.
The average price for April 2012 transactions was $517,556 – up 8.5 per cent
compared to April 2011.  While price growth was strongest for single-detached
homes, the better-supplied condominium apartment segment experienced a more
moderate annual rate of price growth, at four per cent.
“Monthly mortgage payments remain affordable for home buyers in the Greater
Toronto Area.  While interest rates are generally expected to increase over the next
two years, the extent and timing of rate hikes has been thrown into question by
slower than expected economic growth in the first quarter of this year.  On net,
borrowing costs are expected to remain a positive factor influencing home sales
through 2012,” said Jason Mercer, TREB’s Senior Manager of Market Analysis

http://www.torontorealestateboard.com/market_news/market_watch/2012/mw1204.pdf


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