In August 2009, greater Toronto Realtors reported 8,035 sales, up 27% from August 2008. The average price for August transactions was $387,921 - up by 6% compared to the same month last year. The increase in demand for existing homes has been widespread across different housing types and price ranges. This suggests many categories of home buyers have chosen to make a long-term investment in housing, from first-time buyers to move-up buyers or buyers who are seeking a life-style change.
Year-to-date sales, at 58,421 were up 2% compared to the first eight months of 2008. Home sales have helped other sectors of the economy through homes buyers' spending on things like financial and legal services, moving, renovations and home furnishings.
