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TORONTO, December 6, 2006 -- The Greater Toronto Area’s resale housing market maintained its strong pace in November as 6,281 homes changed hands during the month, Toronto Real Estate Board President Dorothy Mason announced today.

November market on solid footing

“Existing home sales have remained very respectable through the first two months of the fourth quarter,” Mr. Mercer said. “Home buyers have remained confident in their ability to purchase a home due to low borrowing costs and steady employment and wage growth, on average.”

In the city’s east end, Scarborough Town Centre / Woburn (E09) saw an increase in overall sales of 30 per cent compared to November 2005, led by a jump in condominium transactions.

A jump in transactions of semi-detached homes fueled an overall sales increase of 53 per cent in the York South area of Toronto (W03) compared to the same timeframe a year ago.

North of Toronto in Richmond Hill North (N05), detached homes were the most common housing type changing hands as the area saw an overall increase in sales of 29 per cent compared to last November.

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