This was a great headline on the news and for anyone looking to either purchase or sell a home. The nay-sayers are saying that this won't last. These are the same guys that have said that the housing market is going to self-destruct just the way it did in the good old U.S. of A.
Multiple offers are back with a vengance. Frustrated buyers who haven't been taught the process of purchasing a home. Also, buyers who have not been advised to get their finances in order and discuss pre-approval for a mortgage cannot understand why they are losing the battle of home purchase. Interest rates remain low. Prices have risen, very little, but they have started a small climb.
In the middle of a "recession", we have gone from a Buyer's Market to a Seller's Market. Don't forget, we are now entering the "Summer Market" which is also a slower market. Sellers and buyers alike are more interested in the holiday season and enjoying the sunshine. Getting away and taking some time to ourselves is important to recharge our batteries.
CMHC are surprised at the rebound, but are not expecting it to last. As I have said before, we have to have to get our consumer confidence back. Once the job numbers start picking up, our confidence will start to return.
Prices have started to rise because of low interest rates and also there are fewer active listings from last year (fewer properties to choose from).
“The average resale home price has moved in line with last year’s level because of tighter market conditions experienced this Spring,” stated Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales have increased strongly relative to new listings, bolstering home prices.”
Contact Betty Bartusevicius 905 828 3434 or directly at 416 427 1875
Re/Max Realty Specialists Inc., Brokerage
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I am in this business for the long term. Being a full-time agent, I am committed to providing you with excellent service and I continue to share my real estate knowledge and thoughts with you. I want to be known as your "Real Esate Advisor". Whether you want some reliable information about the Real Estate Market, or if you are just curious about how your home might stack up against neighbourhood listings, remember, I'm just a call away.
Are you an Owner? If you own property in the Mississauga, Oakville, or Burlington Communities, and you would like to sell your residence, contact Betty Bartusevicius at 905 828 3434 or directly at 416 427 1875 and get a free market analysis.
Are you a Buyer and are interested in purchasing a home in the 905 area code? Contact Betty to receive SOLDS/FOR SALE Homes of neighbourhoods to enable you to make an informed decision and do some comparable shopping.
If you know of friends, family, or colleagues who are thinking about making a real estate move, feel free to pass along my contact information. Know that their real estate needs will be well attended to with kindness and professionalism. Your referrals will be greatly appreciated.