The average home sale price across the GTA continued to rebound in the last quarter of 2009, with forecasts for 2010 predicting it will follow the same trend. 

In September, TREB President, Tom Lebour, commented... “We have experienced an increasing rate of existing home price growth in the GTA as sales have continued to outpace 2008 results. Consumers have remained confident in ownership housing as a long-term investment. 

Those comments proved to be a true reflection of all of 2009.

So where will prices go in 2010? The year typically starts off strong with January and  February  marking modest gains.   A steady market with moderate supply and solid demand can be expected.  Supply often increases in March, allowing spring buyers to take advantage of the increased choices available.  

One thing is sure, the message from both our federal government and Canadian mortgage specialists is that these incredibly low interest rates should be taken advantage of while they are here, as they only have one way to go from current levels... UP!