Existing home sales as measured by the Multiple Listing service (MLS®), are expected to increase during 2007 by 7.6 per cent to approximately 519,722 units, surpassing the previous record level of 483,344 set in 2005.
In 2008, MLS® sales are expected to decrease by 3.9 per cent to 499,650 units reflecting moderating demand due to rising mortgage carrying costs.
Despite this forecasted decline, MLS® sales in 2008 will be at their second highest level on record. During 2009, continuing moderation is expected with growth falling by 2.3 per cent to 488,300 units.
Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
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