Sept. Canadian 2011 @HomeNewsletter
Canadians believe buying a home is a good investment On September 7, 2011, the Bank of Canada again held interest rates at near-historic lows, maintaining the overnight rate at 1%. The ready availability of affordable financing continues to attract home buyers, including new buyers who are entering the market for the very first time.
It’s really not all that surprising that Canada’s housing market is going strong. The demand is there. Canadians firmly believe that buying a home is a good investment. According to the CMHC (Canadian Mortgage and Housing Corporation) 2011 Consumer Survey, the vast majority of recent homebuyers (a whopping 86%) agree that homeownership is a good long-term investment. This view was shared by respondents in all regions of Canada.
With interest rates still at near-historic lows, for many people this is a good time to buy a home, especially if you have the financial viability and a lifestyle need to move. However, real estate should be seen as a long term investment that adds to the quality of life for you and your family. It’s not a get-rich-quick scheme or a winning lottery ticket. Prices are forecast to moderate and stabilize through 2012, so those looking for a fast return from a ‘quick flip’ could be disappointed.
Even looking long term, investing in real estate is not for everyone. That’s why it’s important to get some expert advice from your local Coldwell Banker® real estate professional.
Canadian real estate forecasts upgraded Canada’s real estate market continues to make a strong showing. Recently, industry forecasts for the national housing market were slightly upgraded. On August 16, The Canadian Real Estate Association (CREA) revised its forecasts upward for 2011 and 2012. National sales activity is forecast to reach 450,800 units in 2011, edging just slightly higher than the sales levels 2010. Sales in 2012 are forecast to stay at similar levels, easing just seven tenths of a percentage point to 447,700 units next year.
According to CREA, additional new listings are expected to result in a more balanced resale housing market in most provinces. The national average home price in Canada is forecast to rise 7.2 per cent overall in 2011 to $363,500. However, prices are expected to moderate in the second half of this year. The national average is forecast to stabilize in 2012, although at a slightly higher level than previously expected.
Of course, that’s just an overview of the national scene. It’s important to remember that real estate is, and always will be, a local business. Prices can vary dramatically within a community. Even from street to street. That’s why it’s so important to talk to your local Coldwell Banker® real estate professional, to help you understand the market and make smart decisions.
Canadians believe buying a home is a good investment On September 7, 2011, the Bank of Canada again held interest rates at near-historic lows, maintaining the overnight rate at 1%. The ready availability of affordable financing continues to attract home buyers, including new buyers who are entering the market for the very first time. It’s really not all that surprising that Canada’s housing market is going strong. The demand is there. Canadians firmly believe that buying a home is a good investment. According to the CMHC (Canadian Mortgage and Housing Corporation) 2011 Consumer Survey, the vast majority of recent homebuyers (a whopping 86%) agree that homeownership is a good long-term investment. This view was shared by respondents in all regions of Canada. With interest rates still at near-historic lows, for many people this is a good time to buy a home, especially if you have the financial viability and a lifestyle need to move. However, real estate should be seen as a long term investment that adds to the quality of life for you and your family. It’s not a get-rich-quick scheme or a winning lottery ticket. Prices are forecast to moderate and stabilize through 2012, so those looking for a fast return from a ‘quick flip’ could be disappointed. Even looking long term, investing in real estate is not for everyone. That’s why it’s important to get some expert advice from your local Coldwell Banker® real estate professional. |
Canadian real estate forecasts upgraded Canada’s real estate market continues to make a strong showing. Recently, industry forecasts for the national housing market were slightly upgraded. On August 16, The Canadian Real Estate Association (CREA) revised its forecasts upward for 2011 and 2012. National sales activity is forecast to reach 450,800 units in 2011, edging just slightly higher than the sales levels 2010. Sales in 2012 are forecast to stay at similar levels, easing just seven tenths of a percentage point to 447,700 units next year. According to CREA, additional new listings are expected to result in a more balanced resale housing market in most provinces. The national average home price in Canada is forecast to rise 7.2 per cent overall in 2011 to $363,500. However, prices are expected to moderate in the second half of this year. The national average is forecast to stabilize in 2012, although at a slightly higher level than previously expected. Of course, that’s just an overview of the national scene. It’s important to remember that real estate is, and always will be, a local business. Prices can vary dramatically within a community. Even from street to street. That’s why it’s so important to talk to your local Coldwell Banker® real estate professional, to help you understand the market and make smart decisions. |
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