These two Edwardian beauties on Roxborough Ave. are getting full makeovers as new owners move in. As a local resident told us: “The first thing people want to do is take them all apart.” This activity seems to be in keeping with a brisk trade in Canada’s re-sale housing market. Homes sold well in both Vancouver and Toronto in July with prices continuing to rise. The Canadian Real Estate Association (CREA) takes this to mean that the market overall is beginning to stabilize after a decline earlier in the year. CREA says resales edged up 0.2% from June on a seasonally adjusted basis and up 9.4% from July 2012, when tighter rules put the brakes on lenders and buyers. Despite the recent uptick, the total of 284,865 homes that traded hands in the first seven months of 2013, is 4.6% fewer than the corresponding period last year. “Canadian home sales have staged a bit of a recovery in recent months after having declined in the wake of tightened mortgage rules and lending guidelines last year, but the numbers for July suggest that national activity is levelling off at what might best be described as average levels,” said Gregory Klump, the real estate association’s chief economist. The national average home price was $382,373, 8.4% higher than a year ago, although Klump said that was mostly because sales were concentrated in expensive major markets. Excluding sales in Toronto and Vancouver, the national average price would have gone up only half as much and sales volume would have been down from June, the CREA report notes. Pictures courtesy Yonge and Roxborough NewsHousing continues to sell briskly say realtors
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These two Edwardian beauties on Roxborough Ave. are getting full makeovers as new owners move in. As a local resident told us: “The first thing people want to do is take them all apart.” This activity seems to be in keeping with a brisk trade in Canada’s re-sale housing market. Homes sold well in both Vancouver and Toronto in July with prices continuing to rise. The Canadian Real Estate Association (CREA) takes this to mean that the market overall is beginning to stabilize after a decline earlier in the year. CREA says resales edged up 0.2% from June on a seasonally adjusted basis and up 9.4% from July 2012, when tighter rules put the brakes on lenders and buyers. Despite the recent uptick, the total of 284,865 homes that traded hands in the first seven months of 2013, is 4.6% fewer than the corresponding period last year. “Canadian home sales have staged a bit of a recovery in recent months after having declined in the wake of tightened mortgage rules and lending guidelines last year, but the numbers for July suggest that national activity is levelling off at what might best be described as average levels,” said Gregory Klump, the real estate association’s chief economist. The national average home price was $382,373, 8.4% higher than a year ago, although Klump said that was mostly because sales were concentrated in expensive major markets. Excluding sales in Toronto and Vancouver, the national average price would have gone up only half as much and sales volume would have been down from June, the CREA report notes. Pictures courtesy Yonge and Roxborough News