20 Jun 2011

Toronto housing market continues to thrive

Despite numerous studies and economists projecting a housing slowdown is in the offing for Toronto, the numbers continue to defy the oddsmakers.

According to statistics recently released by the Canadian Real Estate Association, national resale housing activity was stable in the month of May for Canada overall, but home sales skyrocketed in Edmonton and Toronto.

According to the report, in Toronto, home sales reached their second highest level on record in the month of May.

That wasn’t the case in all of Canada, however, as several metropolitan regions reported declines, specifically Vancouver and Ottawa.

“Toronto stood out as an exception,” said Gregory Kump chief economist for CREA. “Sales activity there [grew] faster than new supply.”

Several reports have been released in recent weeks suggesting the Toronto housing bubble is about to burst, perhaps leading to a decline in the number of families in need of a storage unit. However, Sal Guatieri, senior economist for BMO Capital Markets, reports Toronto welcomed 92,000 immigrants last year. The increased demand for housing should help cushion any market weakness that may come to pass, Guatieri said. 

Be Sociable, Share!

Related Articles [3]

5 Tips To Help You Downsize To A Smaller Home

December 15th, 2015
Sometimes life events bring with them the need or desire to opt for a smaller living space. Unfortunately – though not always – this entails either getting rid or moving...

Toronto home sales jump in July

August 5th, 2013
The latest report from the Toronto Real Estate Board showed that home sales in the greater Toronto area were up 16 percent in July on a year-over-year comparison, marking...

Home prices on the rise in Toronto

July 25th, 2013
A recent report from Remax Ontario-Atlantic Canada indicated that home prices in a number of Toronto neighborhoods are averaging more than $1 million.According to the report,...

Hammad Assan joined Jiffy Self-Storage in June 2012. He has over 20 years of experience in various Customer service, Sales and Management roles and is a Certified Self-Storage Operator through the Canadian Self Storage Association. His passion for sales and customer service has maintained Jiffy Self-Storage’s position as one of the GTA’s most successful Storage Facilities, as recognized by winning the Consumer Choice Award 22 years in a row, a perfect A+ rating with the BBB with zero complaints and a 4.5/5 Star Review rating on Google. Our tenants greatly appreciate his dedication to exceptional customer service and as a result Jiffy Self-Storage has been recognized and awarded for that. Please contact Hammad about any of your storage, parking, workspace or retail unit needs.

Leave a Comment

Recent Posts Blog Categories Archives Subscribe to RSS Feeds
Essential SSL