TREB Reports – More Balance in the Market

On June 5th the president of the Toronto Real Estate Board announced that the market is shifting to a more balanced market.  The reason that this is happening is the fact that the number of listings has risen while the number of sales have decreased.  The actually number of sales for the month of June was 8600 and although it was down compared to our record breaking year in ’07 by 18%, if you take a look at the previous year we are only down 1% compared to ’06.

I think that  this is exactly what we needed for the real estate market in Toronto, now the buyers and sellers will be on the same playing field.  With this in mind I think that buyer confidence will rise dramatically, and although I am not convinced the days of the multiply offers is not over I think that the amount of offers may start to reduce to two or three compared to five or six.  We’ll see only time will tell…

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