CMHC's Ontario regional economist Ted Tsiakopoulos agreed that while GTA existing home sales have remained strong, some moderation in activity should be expected. A ten year expansion in home prices and recent increases in mortgage rates have lifted home carrying costs. Sales of townhomes and detached homes in Markham / Unionville (N11) contributed to an overall increase in transactions of 54 per cent compared to 2005's mid-September results.

Prices continued their upward trend, with the mid-month average price of $335,208 eclipsing the mid-September 2005 mark of $328,266 by two per cent. Average prices year-to-date are five percent higher than figures reported to the same point in 2005.

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Edwina Baniqued