Homes Sales down in June

During last month of June, greater Toronto REALTORS® reported 8,442 sales through theMultiple Listing Service® (MLS®).This represented a 23 per cent decrease compared to the record 10,955 sales reported in June 2009. Sales for the second quarter of 2010 amounted to 28,810 – up one percent annually. Year-to-date sales through June were up 23 per cent to 50,455compared to the first six months of 2009.“We experienced a record number of existing home sales during the first half of 2010,but these sales were weighted more towards the beginning of the year,” said newly elected Toronto Real Estate Board President Bill Johnston. “The pace of home sales has moderated from record levels over the past two months with the prospect of higher mortgage rates.”The average price for June transactions was $435,034.