Toronto housing market takes larger hit than expected
Posted by admin | Toronto Self Storage |
After speculation about whether Toronto's housing market would improve during February, new figures released by the Toronto Real Estate Board suggest that isn't the case. The number of homes sold in February totaled 5,759, which was a slight disappointment compared to last year's number, which was 6,809, the Globe and Mail reported. Real estate analysts estimate one of the reasons for the 10.5 percent decline in sales might be due to the fact that February 2012 was a leap year.
Over the past few years, many consumers have had to downsize their homes due to economic reasons. If people aren't in the market to purchase a new home quite yet, but would like to find a place to keep their extra items, renting a Toronto self storage space is a great problem solver.
According to the Wall Street Journal, TREB President Ann Hannah said another reason for the decline in home sales might be due to the federal government's stricter mortgage guidelines that were introduced last year.
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