Linda Linfoot - Keeping You Informed
Canadian Real Estate on Solid Ground
The Canadian Real Estate Association (CREA) has revised its forecast for home sales activity via the Multiple Listing Service® for 2011 and 2012, and the outlook is positive!
Overall, both sales activity and prices have come in stronger than expected this year. In fact, instead of its original prediction that sales would decline by about one percent in 2011, CREA is now forecasting a slight rise in national sales activity, to 450,800 units by the end of 2011.
The average home cost varies significantly by province, as shown on the chart below, and shows no sign of extreme deviation in the upcoming year. Of course, there are areas within each province that will show wide fluctuations in price. For this reason, both buyers and sellers in today's real estate environment are urged to consult with their real estate sales representative as the first step in their decision to enter the market.
Please call for a no-obligation update on the latest activity and prices in your area of interest.
