This is expected to be another strong year for home sales and might set a record – again.
The Toronto Real Estate Board estimates its realtors will sell between 96,500 and 105,000 this year.
The record is 101,229 transactions set last year.
The average selling prices is also expected to go up to between $655,000 and $665,000 from just over $622,000.
Whether 2016 will result in another record year will depend on a couple of key factors – the direction of borrowing costs and availability of listings.
Research done for TREB suggests only a small percentage of buyers will be affected by tighter mortgage lending rules announced by Ottawa in December.