Here in Northumberland County it is sunny and windy out today. Bright skies, Robins in the air. We are experiencing the melting of the last snow storm of the winter. Interesting how tied to the weather our Canadian economy is. Depending which business you are in it can make or break it. "Everything Moves Real Slow When It's 40 Below" That line (from a song by Sam Roberts, a Canadian singer/songwriter) is what comes to mind for me in terms of the local Real Estate market. With the signs of Spring come the signs of the busy season in Canadian Real Estate. The phones are ringing more often than not, the signs are going up (FOR SALE!), and also coming down (SOLD!) More and more visitors are attending at the Open Houses.
There has been a lot of discussion this winter on the US economy & the real estate market, and any fallout Canada may endure from that. From all the literature I read or hear from economists, and from what I read from both the Canadian Real Estate Association and the Real Estate Council of Ontario, my summation on our economy is that we are not as threatened by the gloom of the US as people are thinking. The main obstacle we need to overcome, we keep hearing, in terms of the prognosis for the Real Estate market, and the economy overall, has to do with consumer confidence. The following quote was March 4th 2008 from the Realtorlink (tm) website.
"Declining interest rates and a rebound in economic growth are factored into the CREA MLS® 2008 market forecast, to be issued later this month. "Sales activity will stay strong and reach the second highest level on record this year. Prices are also forecast to continue rising. Additional cuts to mortgage interest rates are good news for housing affordability and Canadian housing demand," Klump added. Source of quote is Realtorlink (CREA 04/03/2008)
I enjoy discussing Real Estate and would love to talk further on this or any topic regarding the market or the local area. Please feel free to contact me by email or telephone or drop in to either of our two local Century 21 offices (Port Hope or Cobourg) to arrange a time when we can meet to discuss your questions or ideas or determine if I can help you with your Real Estate needs. Thanks! Denise