CREA Residential Market Forecast

The Canadian Real estate Association (CREA) recently released some of its housing statistics and once agan you can see how we are doing ok here in good old NB.

In Canada, the number of units sold were down by 17.1% in 2008, and they are forecasting a reduction of 16.9% in 2009 and an increase of 9.9% in 2010.

Now in NB, we experienced a drop of 7.4% last year, they are anticipating a drop of 8.7% in 2009 and an increase of 5.1% in 2010.

With sale price, in 2008 average price dropped 0.7%, in 2009 they predict a drop of 8% and in 2010 an increase of 1.1%.  In NB, we saw a price increase by 6.7% in 2008, will expect little change in 2009 and a modest increase of 0.5 in 2010.

So were are leading the country in this recession.   Not so deep for us and out a bit earlier. 

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