The Toronto Real Estate Board confirmed that buyers remained cautious in the first half of April with a reported 3,861 transactions, a drop of 7 per cent compared to last year but a 30 per cent increase from sales in the first two weeks of the month before.

Some Toronto Real Estate buyers it appears, are now taking advantage of the lower interest rates and most important lower resale home prices. The average Toronto home price fell 4 per cent from the same time last year.

A senior Royal Bank economist anticipates that a recovery in the fortunes of the housing market will lag behind an upturn in the wider economy with an expectation of the recession ending sometime mid-year.

Toronto Real Estate is now entering our Spring Market and both sales and prices should increase somewhat moderately even though the economy is still suffering from the World Financial Crisis and an uncertainty about the timing of a Real Estate purchase.