June 28, 2009: After several months of doom and gloom fuelled by the media, real estate sales in Toronto are on a roll again. Buyers see the value of historically low interest rates, significantly increasing affordability.

Listing inventory remains dramatically lower (by 20%) than at the same time last year, and the average time required to sell a property in May was only a little higher than at the same time a year ago (35 days in May 2009, 31 days last year), after hitting 49 days in January.

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REALTORS® lobbied vigorously for help for home owners and buyers in the Federal Budget, and that effort brought results. Three areas related to home ownership were addressed in the Budget. 

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The largest city in Canada, Toronto has an industrial past. Its factories, built in the 19th and early 20th centuries, over time became defunct, and are sitting on prime downtown real estate. Such buildings are a superb material for loft conversions. Converting abandoned factories and warehouses into lofts can revive run-down areas of old cities, and provide interesting living space for artistically inclined individuals.

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