With an astonishing 11,146 sales in May, the Toronto Real Estate market put in its best performance since records have been kept, President Dorothy Mason announced today. "The Toronto Real Estate Board has been tracking the local housing market for over forty years, and there has never been a month that even approaches this level of activity," Ms. Mason stated. "May was up 18 per cent over April, our previous record month (9,452 sales), and also up 18 per cent over May of 2006 (9,434 sales), which now ranks as the third highest sales total recorded."

Ms. Mason further noted that, according to statistics compiled by the Canadian Real Estate Association, every home sale generates about $27,000 in economic activity (for renovations, furniture purchases, and so forth) over and above direct expenditures involved in the transaction. "This means that REALTORS® and their clients have contributed over $300 million to the local economy in ancillary costs last month alone."

The Toronto Real Estate Board includes Toronto, York Region, Mississauga, Brampton and Durham Region.

However, while sales sky-rocketed, price increases were restrained, with the average rising a mere five per cent to $382,787 from the $365,537 recorded during May of 2006. Breaking down the total, 4,175 sales were reported in TREB's 28 West districts and averaged $356,836; 2,038 sales were reported in the 14 Central districts and averaged $506,172; 2,323 sales were reported in the 23 North districts and averaged $408,391; and 2,610 sales were reported in TREB's 21 East districts and averaged $305,168.

Interest rates are on the rise. Home buyers who are currently pre-approved at a lower interest rate should capitalize and try to purchase a home before their pre-approval expires. If you're not pre-approved and thinking of buying a home, get pre-approved as soon as possible. Most Financial institutions will lower your rate should interest rates go down, ask to be sure.

The rise in interest rates also affects home sellers!

As rates go up, buyer's pre-approvals go down, meaning they cannot afford as much. For example: If a buyer is pre-approved to $400,000 at a 4.5% interest rate, when the rate goes up they will be pre approved for less, let's say that turns into $370,000. This means if you are selling your home for $399,900, there are not as many buyers able to consider your home.

If you are a home buyer or seller, keep your eye on the interest rates, they could have a huge impact on your purchase or sale!

Now that I've brought this to your attention, I want to remind you that interest rates are still outstanding today compared to times in the past.

I want to remind you that I offer many services that are completely free with no obligation!

From on-line evaluations and area reports for sellers to my free Home Finder program for buyers. These services are easy to use and completely free. Simply click on the links to the left of this article at the top of the page.

Also, If you'd like to try to sell your home yourself without a Realtor, I have a FREE report on how to sell your home yourself!

I know you're thinking "Why in the world would Jay want to help me sell my home myself?"

The answer is quite simple: I believe what goes around comes around. If you are successfull selling your home yourself (and the chances are excellent with the tips in this report), experience has proven to me that you may remember the help I provided and give my name to others who may need my services.

If you eventually need a Realtor to assist you in the sale of your home, I hope you'll allow me to show you my marketing plans and that you will at least consider me for the job.

No matter what happens, it's OK with me. I know that in the long run if I help enough people get what they want, I will get what I want as well; which is to make a good living helping people with their Real Estate needs.

Give me a call for this fabulous free report!