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May Sales Remain High for Durham Resale Housing Market |
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DURHAM REGION – June 4, 2010 – The Durham Region Association of REALTORS® reported 1,027 sales through the Multiple Listing Service® (MLS®) during the month of May which is at par with last year’s 1,026 sales for the same month, but reflects a decrease from the high sales totals seen in both March and April of this year.
Meanwhile, active listings remain on the rise with May offering up 2,600 available resale home listings, 1% higher than May of 2009 and the highest amount seen so far this year.
“We can now see the forecasted trend of increased available listings coinciding with a decrease in the substantial sales of the prior few months. With an anticipated increase in mortgage rates, many buyers purchased their homes earlier than is the norm this year” explains Dierdre Mullen, President of the Durham Region Association of REALTORS®.
The average selling price in May was $301,568, an increase of 8 per cent over last year’s May average of $278,592, but also less than the highs seen over the previous months of 2010.
“After such a fast pace for the beginning of 2010, the Durham resale housing market is now balancing out and will continue to do so in the months to come. With so many options now available for buyers, the annual rate of price growth will continue to slow in the second half of the year.” |
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Durham REALTORS Lobby Their Issues on Parliament hill |
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DURHAM REGION – May 12, 2010 –
Representatives of the Durham Region Association of REALTORS® recently journeyed to Ottawa to meet with Dr. Colin Carrie, Oshawa MP and Mark Holland, Ajax-Pickering MP on Parliament Hill to discuss two key issues; “Unlocking Property Reinvestment” and “The Home Buyers Plan” (HBP), during the Canadian Real Estate Association (CREA) 25th annual Political Affairs Conference (PAC Days).
The root of the issues was in allowing the capital gains tax and the recaptured capital cost allowance to be deferred when an income property is sold and the proceeds are reinvested in another income property within one year and has been presented to MP’s for a couple of years now.
The Government answered the industry’s request in 2009 by raising the HBP withdrawal limit from $20,000 to $25,000. Now the industry is asking for the HBP RRSP withdrawal limit to be indexed to ensure it never loses its buying power. |
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Record Sales in April for Durham Housing Market |
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DURHAM REGION – May 7, 2010 – Durham Region Association of REALTORS® reported a record 1,185 sales of single family homes in Durham Region during the month of April through the Multiple Listing Service® (MLS®), representing a 41 percent increase compared to April 2009.
Comparably, the number of available listings also continued to rise, offering a total of 2,426 resale homes for sale during April, 14 percent more than March 2010.
“The trend across all of the GTA, including Durham, is that listings continue to increase as sellers recognize the strong sales and price growth within the housing market” explained Dierdre Mullen, President of the Durham Region Association of REALTORS®. “Buyers are responding by taking advantage of the great housing selection in addition to the opportunity for ownership at affordable prices.”
The Average resale home price in April was $304,436, up 13 percent from the $269,596 reported in April 2009.
“Although home sales will remain strong, higher borrowing costs, more sustainable rates of annual price growth and more balanced market conditions in general are the forecast for the remainder of 2010.” |
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Windsor developers selling off real estate assets |
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WINDSOR, Ont. — Local developers Joe and Lou Mikhail are in the process of divesting the bulk of their Ontario commercial real estate assets and spending freely in the U.S., fed up with a provincial bureaucracy that they say hinders development.
http://www.windsorstar.com/Windsor+developers+selling+real+estate+assets/2958091/story.html
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Durham housing starts soar in March |
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DURHAM -- Signs that the recession is over and the economy starting to hum again can be seen in the latest housing figures from the Canada Mortgage and Housing Corporation.
New home starts in March for all of Durham totalled 201 units, compared to 33 in March of last year. For the first three months of this year, the total is 486, up from 231 of last year.
Rebecca Evans, president of the Durham Region Home Builders' Association, says, "We're very pleased to see the rise in new homes sales over 2009.
http://newsdurhamregion.com/article/152045 |
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