Monday, April 18, 2011
Driven by the threat of higher interest rates down the road, first-time buyers are contributing to strong upward momentum in residential housing markets across the country, according to a report released by RE/MAX. The RE/MAX First-Time Buyers Report , highlighting trends and developments in nineteen major Canadian centres, found that low interest rates and balanced market conditions have provided significant impetus in 2011, particularly at lower price points. Just over 30 per cent of markets are reporting sales in excess of 2010 levels as a result, while almost 70 per cent have experienced an upswing in average price. Leading the country in terms of percentage increases in the number of homes sold are Western Canadian markets, including Saskatoon (up close to 15 per cent), Greater Vancouver (up close to 12 per cent), and Winnipeg (up just over 11 per cent). With an average price hike of close to 20 per cent year-to-date (February), Greater Vancouver continues to show unprecedented strength, followed by Hamilton-Burlington (eight per cent), Quebec City (seven per cent), Winnipeg (close to seven per cent), Greater Toronto (five per cent), and Greater Montreal (five per cent).
Wednesday, April 6, 2011
The London Free Press just released this article about the London Market, saying the area real estate market showed some signs of improvement last month after a chilly winter. The London and St. Thomas Association of Realtors (LSTAR) said 647 detached homes and 162 condos sold last month for a total of 809. That's still down 5.8% from the same month last year but is an improvement over the last three months when sales were down 9-13% LSTAR president Jack Lane called the March numbers "solid." "Considering how much miserable weather we had in March, I think these numbers speak to the strength of our market and I expect this positive trend to continue throughout the year," he said. Lane noted the number of sales was just below the ten-year average sales for March of 813 homes.