By Susan Pigg – Toronto Star MoneyVille

House sales — and doom-defying price increases — are slow­ing, eas­ing con­cerns that the low­est inter­est rates in his­tory could cause the Cana­dian hous­ing mar­ket to overheat.

Buy­ers are becom­ing “increas­ingly cau­tious,” but house sales are expected to con­tinue mak­ing a “sig­nif­i­cant con­tri­bu­tion to Cana­dian eco­nomic activ­ity” this year, says the Cana­dian Real Estate Association.

A total of 456,749 houses changed hands via Canada’s MLS sys­tem in 2011, up 2.2% from 2010, CREA reported in its monthly assess­ment of the mar­ket released Monday.

While Toronto house prices were actu­ally down in Decem­ber over Novem­ber when adjusted for sea­sonal fluc­tu­a­tions — they dipped about 2.4% putting the aver­age house at $466,540 — prices were up over­all some four% from Dec. 0f 2010.

The aver­age Cana­dian house price was $358,480 when adjusted for sea­sonal fluc­tu­a­tions, up almost 1% from a year ago.

—————————————————————————————————–
Con­tact the Jef­frey Team for more infor­ma­tion – 416−388−1960

Lau­rin & Natalie Jef­frey are Toronto Real­tors with Cen­tury 21 Regal Realty.
They did not write these arti­cles, they just repro­duce them here for peo­ple
who are inter­ested in Toronto real estate. They do not work for any builders.
—————————————————————————————————–

decem­ber guest house rates in toronta

Related posts:

1. GTA home sales down slightly in 2010 Greater Toronto Real­tors sold 1% fewer homes in 2010 versus…
2. Prices, Activ­ity Con­tinue to Climb in Decem­ber The Toronto Real Estate Board reports that records are being…
3. Decem­ber Con­tin­ues Real Estate Rise We have had the sec­ond best year on record for…
4. Toronto house prices surge 11% in third quar­ter real estate sales climbed to the high­est level of any…
5. Aver­age house prices rise Cana­dian exist­ing homes sales soared in June, up 17.9% year…