Yorkville Condos Toronto
A major Toronto Real Estate adjustment in 2012 can not be justified according to the CEO of Royal LePage.
Granted, he does see the Real Estate Market in Toronto and Vancouver continue to expand at a slower pace in 2012.
The average home price in Metro Vancouver is expected to climb 2.3 per cent to $802,000 and in Toronto the average home price there is expected to increase 2.6 per cent.
LePage stated the Real Estate Market across Canada has significant momentum entering the year and even more low-interest rates will help the markets to increase.
The average prices in the 4th quarter were:
- Standard two-story home $375,427 up 4.2 per cent from a year earlier
- Detached bungalow $344,392 up 6.1 per cent
- Condominiums $234,680 up 3.6 per cent
The Canadian Mortgage and Housing Corp. forecast the average price of resale homes for 2012 to be $363,900 and the Canadian Real Estate Association predicted their average resale home price at $362,700.
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