Toronto home sales should moderate in the second half of 2010 according to economists and Toronto Real Estate analysts.

Building permits in Toronto rose 19.5 per cent in March compared to the same month last year with the multi-family sector (Condominium High-Rise) making a major contribution to the numbers.

There was a lot of pent-up demand coming out of the recession, contributing to a little bit of over-building right now according to a BMO economist.

TD Bank said home sales will drop off in the second half of this year and next year as current levels of construction, stronger than expected, will begin to drive down prices.

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