Sales of homes in Canada jumped 31.5 percent in the second quarter from the first and saw their first year-over-year quarterly increase since before the peak of the financial crisis, the Canadian Real Estate Association said on Tuesday. The report is the latest piece of evidence showing that consumers are venturing back into the home market, encouraged by low mortgage rates and signs that the worst of the recession is over. A total of 41,304 homes changed hands in the month of June.
Home sales totaled 147,351 units in the second quarter of 2009, up 1.4 per cent from the same quarter of 2008. Home sales rose 8.7 percent in June from May and they were up 17.9 percent from June 2008.
This is on par with the June record for the greatest sales month set in 2007 and is the fourth highest sales month ever for activity in any month on record.
If you were waiting to jump into the market when it had hit the bottom, you have already missed it. With sales volume and housing prices already at pre-recession levels, we can confidently predict that the housing market is on the upswing and will continue to improve.
For more information on buying or selling real estate in Burlington, Hamilton, Oakville, or Toronto Ontario, or if you have questions about current market trends, mortgages or interest rate information, please visit the Sean Kavanagh Real Estate Resource Centre at www.seansells.ca, or at www.seankavanagh.ca I'd be happy to answer any questions to accommodate all of your real estate needs. Follow me on TWITTER or FACEBOOK! You can also contact me at 905-220-9198 or at www.realestatechat.ca as I am now a moderator on the Ontario Real Estate chat forum as well as the Burlington, Ontario sub-forum.
I look forward to hearing from you!
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