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London New Home Sales Survey

The decline of new home sales in the London area slowed in the 3rd Quarter 2009 as a result of slightly higher demand for new single detached homes. New home sales were down slightly compared to the same period in 2008 (265 units vs 279 units).
Sales of existing homes increased slightly as a result of low mortgage rates.

Single Detached Home Sales

Sales of new single detached homes moved up slightly compared to last year (209 units vs 185). A single detached home is the most popular type of home in London.

Semi-Detached Home Sales

Semi-detached home sales decreased by 36% from 47 units last year to 30 units this year.

New Home Sales Prices

The average price for a new single detached home rose in the 3rd quarter to $334,883, up from $311,047 in the same period in 2008. The price for semi-detached homes rose by 1% to $219,442.

All information is courtesy of Canada Mortgage and Housing Corporation.