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Real Estate Updates on Market Trends, House Prices, Homes for Sale in the GTA, Mississauga, Toronto, Brampton, Oakville and Burlington. Sutton Realty Blog, Sutton Mortgage, Contact Sutton 416-896-3333, 905-896-3333 Canada Toll Free 1-800-265-1361


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Summer Cool Down Continues
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The Canadian resale housing market continues to ease up. July sales dropped drastically when compared with the same month last year. This slow-down is not surprising in the face of tighter mortgage regulations and rising interest rates.
"The level of July sales remained below the expected long-term trend. The market has become more balanced following record monthly sales through most of the winter and early spring," said Toronto Real Estate Board (TREB) President Bill Johnston.
While July sales were down compared to last year, the number of new listings in the marketplace also fell. This means there was enough competition between buyers to exert upward pressure on price.
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Posted: Tuesday, August 17, 2010 4:07 PM by Sutton Realty


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