According to a recent report released by the Canadian Real Estate Association (CREA), the national real estate market is a balanced market as we begin 2012, with a slight edge for sellers. The last few months of 2011 saw sales up and activity rising in approximately 60% of local markets. In addition, the average home prices were also up by 4.6% from the previous year.
Gary Morse, CREA’s president stated that “The Canadian housing market is proving resilient in the face of ongoing global economic and financial uncertainty, to the benefit of Canadian economic growth. That said, some housing markets are picking up, while others are holding steady or consolidating”.
It is believed that the tighter mortgage regulations that were imposed earlier in 2011 are working as intended and fostering economic stability in Canada.
For any real estate assistance in the Oakville, Burlington, Milton area contact Mary at email@example.com