The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

Sales of new homes in the Greater Toronto Area (GTA) totalled 1,147 in April, up 14% from March, 1993 and up 20% compared with April, 1992, said Greater Toronto Home Builders' Association (GTHBA) President Murray Koebel. "The positive trend which was estab- lished in January and February of this year was interrupted in March but resumed again in April," Koebel said. "Sales to the end of April are up 4.5% compared with the same period last year," he said. "We're pleased with the modest year over year increase in sales, but feel the market is still underperforrning relative to the high levels of housing affordabili- ty," Koebel said. "One factor holding back buyers may be anticipation sur- rounding the Provincial Budget/Social Contract. If the government leaves money in peoples pockets, then buyers should have the confidence to take advantage of current market opportuni- ties," he said. The 1,147 sales in April translates into 2,867 jobs,* not including those created in the renovation sector of the industry. Housing Data Report (HDR), pre- pared by Brethour Research Associates for the GTHBA, stated that April new home sales consisted of 784 freehold units (68%) and 363 condominiums (32%). New housing creates jobs