TORONTO, February 4, 2015 - Toronto Real Estate Board President Paul
Etherington announced a strong start to 2015, with robust year-over-year sales
and average price growth in January. Greater Toronto Area REALTORS® reported
4,355 home sales through the TorontoMLS system during the first month of the
year. This result represented a 6.1 per cent increase over January 2014. During
the same period, new listings were up by 9.5 per cent. "The January
results represented good news on multiple fronts. First, strong sales growth
suggests home buyers continue to see housing as a quality long-term investment,
despite the recent period of economic uncertainty. Second, the fact that new
listings grew at a faster pace than sales suggests that it has become easier
for some people to find a home that meets their needs," said Mr.
Etherington. The average selling price for January 2015 home sales was up by
4.9 per cent year-over-year to $552,575. The MLS® Home Price Index (HPI)
Composite benchmark was up by 7.5 percent compared to January 2014. "Home
price growth is forecast to continue in 2015. Lower borrowing costs will
largely mitigate price growth this year, which means affordability will remain
in check. The strongest rates of price growth will be experienced for low-rise
home types, including singles, semis and town houses. However, robust enduser demand
for condo apartments will result in above-inflation price growth in the
high-rise segment as well," said Jason Mercer, TREB's Director of Market
Analysis
As the temperatures continue to drop, we'll all be spending more time indoors. There are countless ways to make your home feel cozier for the winter if you have extra money to spend, but if you're being mindful of your finances after the holidays, here are some ideas to help you do it without spending. Bring Out the Blankets As the temperatures drop, it’s time to bring out all of those extra throw blankets and quilts you have lying around in storage. Drape blankets over your couches, chairs, beds, and ottomans; fill a blanket ladder and display it in the corner of a room; or fold extra blankets and place them in the corner. Sticking to warm textures such as wool where possible will help to make the space feel cozy. Light Candles Lighting some candles around your home is one of the easiest ways to make your space feel cozy, and who doesn’t have a stash of candles sitting around somewhere in their home? Not only will the flickering light add a sense of warmth and charm, but your ...
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