If you are sitting on the fence about whether to purchase a home in the near future due to negative publicity regarding a potential drop in prices, I have some info that will help you. The Canadian Real Estate association revised its forcast for national home resales up for the rest of the year citing stronger than expected sales and higher prices in the second quarter.
Mary Gaze from the Canadian press has indicated that real estate buyers will focus on low interest rates and will ignore market turmoil.
CIBC deputy chief economist Benjamin Tal says the stock market uncertainty is actually helping boost activity in Canada's real estate market. He said that bad economic news abroad tends to keep Canadian interest rates low with economists predicting that the Bank of Canada will not touch the rates till at least next year. Buyers can use this opportunity to look in to extremely low mortgage rates.
CREA is suggesting that it's a great opportunity to purchase a property with financing at very favourable rates!
Don't miss this opportunity
Contact Mary or Cheryl for your real estate needs in the Oakville, Burlington and Milton areas.
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