Good News for Sellers

Recent predictions about the housing market hint at a very strong market in 2011. According to Central 1 Credit Union, home sales will rise by 5%, while prices are set to reach a record high.

 

It is believed that an under supply in the new home market this year will result in higher demand for existing homes. In addition, housing starts are predicted to increase by 9 percent (reaching 66,000). Many of these starts will not be ready for 2011 though, meaning that resale value of existing homes will be above average.

 

As with any predictions, only time will tell if this belief is accurate. At any rate, there’s nothing wrong with being optimistic.

 

Here’s to a great year in 2011

 

 

Source: Toronto Star

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Jamie Vieira

Jamie Vieira

Sales Representative
CENTURY 21 Miller Real Estate Ltd., Brokerage*
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