Canadian Housing Market Remains Steady

Francoise Pollard, Real Estate Agent 

RE/MAX Legacy Realty Inc., Brampton Brokerage 

 

If your are sitting on the fence and are not sure whether to invest in real estate, I suggest that you read the article found in the Toronto Real Estate Intelligence blog. Being properly informed on the current real estate market is key, whether you are thinking of buying, selling or investing in a home or condo in Brampton, Mississauga, Caledon or Toronto or surrounding areas.

 

Third Quarter 2011 Housing starts:  After moderating progressively since the second quarter of 2010, housing starts have rebounded in the second quarter of 2011. They are expected to moderate again over the course of the next three quarters. Housing starts are forecast to be 183,200 units for 2011 and 183,900 units for 2012.

 

Re sales: Sales of existing homes through the Multiple Listing Service® (MLS®) declined in the second quarter of 2011 and are forecast to remain stable in the remaining quarters of 2011. MLS® sales are expected to increase modestly in 2012. Overall, 446,700 sales are forecasted in 2011, followed by 458,000 in 2012.Resale prices:  The average MLS® price in the second quarter of 2011 continued to increase but is expected to plateau for the remainder of the year. For 2011, the average MLS® price is forecast to be $367,500 while 2012 will see a modest increase to $372,400.

 

Provincial Spotlight: Ontario and Saskatchewan Housing starts will moderate in all areas of Canada in 2011, with the exception of Ontario and Saskatchewan which will experience a modest increase in housing starts.

 

Alberta and British Columbia: In 2012, growth in housing starts is expected to be strongest in Alberta and British Columbia.

For further information on the real estate market in your neighbourhood feel free to contact me at (647) 204- 6307 or send me an email at francoise@francoisepollard.com.

 

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