Canada is again adjusting the Mortgage Rules in a continued effort to solidify Canada’s Real Estate Market and avoid the overleveraged and under secured real estate failure that we have witnessed south of the border. Annoying? Sure!
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The year in Toronto got off to a good start with reports that 87,308 transactions were processed during 2009 – a 17% increase over 2008. That included 5,541 properties bought and sold during the month of December 2009 alone. The average home price climbed 4% in 2009 to $395,460, according to the Toronto Real Estate Board (TREB).
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