RBC reports on Toronto market has showng improvement

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Toronto - Market rally brings relief

With further sizable declines in the first quarter - ranging from 3.9 to 7.0
percentage

points - RBC's affordability measures for the Toronto area have now been
restored

to historical averages for all housing types. This has opened the door more
widely

to new buyers and set the stage for a resale market rally this spring.
Following a

worrisome drop to a 10-year low during the fall and early winter, resale
activity has

since bounced back vigorously and even slightly exceeded the year-earlier
pace in

May for the first time since the end of 2007. Further, there has also been
evidence

recently that prices are moving up again. While it is still too early to
wave the "all

clear" sign - economic uncertainty has yet to dissipate in the region - it
appears

that Toronto's housing market is averting the painful crash scenarios that
some

had feared.