I Read the News Today, Oh Boy

Flipping open The Financial Post yesterday morning, I was struck by the powerful message of an article titled "Housing Sales Show Two-Month Rebound".  I was really happy about reading POSITIVE news on the housing front, and in one of our national newspapers, no less!

Unfortunately, I don't always feel that the media focus as much on the positive numbers and trends as they do on negative ones, but Financial Post journalist Jamie Sturgeon did a well-rounded job, and I thank him for including my thoughts in his piece.

The FP article talks about the current convergence of:

  • Government incentives
    • Increase in the allowable withdrawal from registered savings plans for first-time buyers to $25,000 from $20,000
    • Tax credit of $5,000 homebuyers may count against their incomes
  • Large inventory of homes for sale

The cumulative effect of these factors is causing people to say, "THIS is a time I can access the market." The greatest demand, currently, is for entry-level homes, driven by first-time homebuyers.

The Financial Post article reported that, according to the Canadian Real Estate Association, the number of homes bought and sold in March rose 7% to 31,135 units, seasonally adjusted, from February, which was already more than 10% better than January!

Does this article reflect the reality in your neighbourhood?

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