Condominium Sales Most Dismal in a DecadeAccording to the Building Industry and Land Development Association, Condominium sales for August 2013 in the Greater Toronto Area showed the most dismal performance in a decade. Condominium sales are hovering 46% below the long-term average. In a seeming paradox,  prices remain at historic highs for low-rise homes given the tight market conditions in that particular segment. Nonetheless, home sales have also declined, now sitting at 43% below the long-term average. The slower sales were primarily attributed to a shortage of land pushing up prices for homes. Another factor sighted was the uptick in government fees and other charges which adds to the cost of buying a new home.

By CWAN Global Press

The Canadian Wealth Advisors Network (CWAN) was established in March of 2009 as an online forum where investment professionals share ideas and best practices that allow them to meet the growing needs of their clients. As the CWAN community grew and evolved, it was expanded to serve both advisors and investors. Garnet O. Powell, MBA, CFA is the Editor-in-Chief of the Canadian Wealth Advisors Network (CWAN) magazine. He is an investment management professional with more than 20 years of experience. linkedin.com/in/garnetpowell

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