Home Affordability Indicator - The Chart To Watch Over The Next Few Months
November 2011 Market Update
The Average Selling Price For Homes Across The GTA .....
Up almost 10% Percent To $480,421 From $437,494 in November 2010
Total Sales Are Up 11% For The Month compared to November 2010
There is one trend in the statistics that is worth watching ..... the Affordability Factor that continues to climb. This factor measures the portion or share of the average household income required to pay for mortgage principal, interest and taxes plus utilities.
Currently this share remains within acceptable lending practices. If this upward trend continues it will begin to eliminate some buyers from the market while others will have to lower their expectations slightly.
"Despite strong price growth this year, the housing market remains affordable in the GTA" Jason Mercer, TREBS Senior Manager of Market Analysis
THE CHART TO WATCH
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GTA MARKET UPDATES
How Are The Current Short Term Trends
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Kathy Clulow Sales Representative RE/MAX All-Stars Realty Inc.. Brokerage 905.852.6143
Each office independently owned and operated Not intended to solicit clients already under contract
Kathy, wow that is amazing. Prices up 10% over last year. I can only imagine that since I have been in this business as the bubble was bursting here in the states.
Cal
Cal - entering the market as a salesperson when it is a down market, as you did, and surviving will make the good years seem like you are hardly working at all.