2008 REAL ESTATE MARKET OUTLOOK

Although no one is certain as to what the future holds - all indications are that the Canadian residential real estate market will continue to be sold.

According to a recent News Release from the Canadian Real Estate Association, the annual residential MLS sales activity in 2007 was up 7.6 percent from 2006 levels and this in direct comparison to US statistics, is a strong indication as to how different the housing markets are in Canada and the United States.

It is predicted that a larger supply of listings will be one of the balance influences of 2008. Average prices for MLS home sales are expected to keep setting records in 2008, although prices will increase more slowly as the market becomes more balanced.

 

Dan Payerl

Dan Payerl

Broker of Record
CENTURY 21 Granite Properties Ltd., Brokerage*
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