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Greater Toronto Area (GTA) REALTORS® reported 10,182 sales through the TorontoMLS system in May 2013, representing a dip of 3.4 per cent compared to May 2012. Sales of single-detached homes in the GTA were up by almost one per cent compared to the same period last year, including a three per cent year-over-year increase in the City of Toronto.

“The sales picture in the GTA has improved markedly over the past two months. While the number of transactions in April and May remained below last year’s levels, the rate of decline has been much smaller. A growing number of households who put their decision to purchase on hold as a result of stricter lending guidelines are starting to become active again in the ownership market,” said Toronto Real Estate Board President Ann Hannah.

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Greater Toronto Area REALTORS® reported 4,476 transactions through the TorontoMLS system during the first 14 days of May. This result represented a decline of 9.7 per cent compared to the same period in 2012. Sales declines were larger for the City of Toronto, at 11.4 per cent, versus the surrounding regions where sales were down by 8.6 per cent year-over-year.

“Despite fewer sales this year compared to last, competition between buyers in most segments of the market remained strong enough to promote annual rates of price growth above the rate of inflation. A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home,” said Toronto Real Estate Board President Ann Hannah.

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Greater Toronto Area REALTORS® reported 9,811 sales through the TorontoMLS system in April 2013, representing a dip of two per cent in comparison to 10,021 transactions in April 2012. Both new listings during the month and active listings at the end of April were up on a year-over-year basis.

“Despite the headwinds we have experienced in the housing market this year, April sales came in quite strong in comparison to last year. As we move through the spring and into the second half of 2013, the demand for home ownership should continue to firm-up relative to last year,” said Toronto Real Estate Board President Ann Hannah.

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Greater Toronto Area REALTORS® reported 4,133 condominium apartment sales through the TorontoMLS system during the first quarter of 2013. This result was down by approximately 17 per cent in comparison to the first quarter of 2012.

New listings of condominium apartments were also down on a year-over-basis in the first quarter, but by a lesser annual rate of five per cent.

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Greater Toronto REALTORS® reported 4,260 sales through the TorontoMLS system during the first 14 days of April, representing a slight dip of less than one per cent compared to the same period in 2012. The reported sales figure did benefit from one extra working day compared to last year, because Good Friday in 2012 fell in April.

“April sales to date, which were driven by strong growth in single-detached home sales in the regions surrounding Toronto, represent a positive start to the spring market. Because market conditions have remained tight, we continue to see average price growth well above the rate of inflation for many home types,” said Toronto Real Estate Board President Ann Hannah.

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