Sales of new homes in the Toronto area are expected to rise 30 per cent compared with 2009, while existing home sales should be up 2.5 per cent, according to a report released Tuesday by the Canada Mortgage and Housing Corp.
"We have entered this year with significant amounts of momentum as a number of temporary factors have boosted sales and prices in recent months," CMHC economist Ted Tsiakopoulos said.
It appears that home buyers are trying to take the opportunity buying a home on a low interest rates. Consumers are taking advantage of the low current interest rates now on the forecast that interest rates would go up sooner or later.
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http://toreal.blogs.com/toronto/2010/03/toronto-real-estate-market-forecast.html
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