As TREB president Tom Lebour writes in his column in the Star, the forthcoming harmonization of PST and GST taxes into the HST is going to add significantly to cost of purchasing a home, beyond just the purchase price itself. Read the full article here.
That may (somewhat) help explain the higher than average number of sales as we heading into what has historically been the slow period of real estate sales (Christmas). That's likely a factor, along with historically low interest rates and a significantly lower than normal amount of homes on the market.
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