Busy spring real estate market expected
Major Canadian housing markets have continued to show "exceptional resiliency" so far this year, setting the stage for a busy spring, according to a major Canadian real estate organization.
After a mild winter and an early start to spring, Canadians are looking forward to a busy real estate market in the coming months. CBC news reports that in January and February, approximately 80 percent of Canadian markets showed an increase in sales figures from the same time last year. The combination of low mortgage rates and buyer confidence seem to be fueling this early start to the spring rush.
Most major Canadian markets are seeing an increase in performance in the double digits, including Halifax, Saskatoon, Regina, Edmonton and the Greater Toronto Area. The only markets seeing a slow down in sales results are Vancouver, Kitchener-Waterloo and Winnepeg.
Elton Ash, the Regional Vice-President of Re/Max in Western Canada, is confident that home price gains will continue to be "much more moderate than in years past," according to this article. Statistics will inevitably vary from market to market, although on the whole, it is believed the spring market will be well balanced.
For more information, read the full article from CBC news here.