first half of May - an increase of three per cent compared to May 2008.

"Members reported a rise in buying activity this month," said TREB President Maureen O'Neill.

"Many home buyers who were undecided about purchasing a home during the winter months

are now proceeding with confidence as a result of the GTA housing market's affordability."

The average price for MLS® sales was in line with last year, down by less than one-half of one

per cent at $399,811.

"More sales and fewer listings resulted in tighter market conditions which pushed the average

selling price back up to last year's level," according to Jason Mercer, TREB's Senior Manager of

Market Analysis. "Look for new listings to increase as home owners react to the positive news

surrounding home sales and prices."

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