New year always brings out the crystal ball. CREA predictions for 2012 Ontario housing market point to price stability, moderated by a slight decline in sales volume. Many regions province saw stronger than expected summer sales activity. Ontario's strong performance prompted CREA to raise the 2011 sales volume forcast from 0.9% to 1.4%.
CREA forcasts reflect expections that interest rates will remain low until well into this year! Across Canada, Home Sales Activity over the past months, especially a 7% jump in November, suggests buys are confident that the Canadian economy will remain unscathed by global economics risks.