Dec 8
The Canadian real estate market is changing
Published in Women’s Post
The residential real estate market in major urban centres in Canada is changing from the sellers market to a more balanced market. In the U.S. sale prices have headed south, but Canadian economists believe the market here is stabilizing after a long price climb in cities like Vancouver, Victoria, Calgary, Montreal and Toronto. A more stable market means the number of homes for sale and the number of buyers for these homes creates a better balance of supply and demand.
What does this mean for you? As a buyer it means you’ll encounter fewer bidding wars, and receive a better chance to purchase the home of your choice. As a seller it means you’ll have more certainty in knowing the value of your house.
“Real Estate is a long-term investment,” added Ann Bosley, past president of the Toronto Real Estate Board and President Elect of the Canadian Real Estate Association. “Toronto continues to be stimulated by an economy that is solid, buoyed by consistently low interest rates and positive consumer confidence.”
There are many causes for change in today’s market. Remember that you drive the market, it doesn’t drive you. And putting more control back in the hands of buyers and sellers is good for everyone.
Remember too, if you’re in the market for a change and planning to buy or sell your home in the coming year, adding the management skills of a professional real estate agent can help you make the transition go more smoothly and successfully.
For more information please contact Susan Bodie, a real estate agent with Bosley Real Estate Ltd. Brokerage in Toronto.
Tel:416.322.8000
