Nationally, home prices are steady, homes are on the market for less time and interest rates are still low. Below is an overview of the national housing market. If you want to know more about the local market, contact me at www.bradsteedman.com I'm happy to give you the scoop on our local real estate market.
Homeownership is High!
69% Homeownership rate in Canada
Housing Affordability is Improving
Affordability rose 0.3% to 42.7 % for detached bungalows and by .03% to 48.4% for two-storey homes.
Inventory is Getting Tighter
Total housing inventory fell to a 6-month supply in July 2014 at the current sales pace,
down from 6.5 months to in January 2014
Nationally, two-storey single family homes had the largest year over year price gains, with the
largest gains seen in the larger markets.