Well September results were higher than the same month last year. It was only marginally higher though with the monthly list to sell ratio softening from 45.88 to 33.69. The softening in the list to sell ratio is the result of more listings over last year. The sales successes of June, July and August brought out some of the Sellers that were sitting on the fence.
It is encouraging that the sales trend has continued for another month to make it 4 in a row! At a recent Power Lunch, the Chief Economist for the Canadian Real Estate Association stated that this trend should continue for the first half of 2010 and then soften in the second half as the HST is rolled out.
Now is still a good time to get into the market. The 30 to 40% decline in overall value of real estate is not going to be a reality. There are some deals to be had but in general the market prices have remained strong. Interest rates are still low making home ownership attractive. Consumers are cautioned that there may be a rise in these rates down the road as the economy strengthens. Don't over-extend yourself!
The County of Simcoe and Grey County have rolled out their assistance programs to assist purchasers of new homes with a forgivable down payment. There are restrictions for this and you can email me to get the information package
We are geared up for a busy fall market. Call me to get in the game.