Tuesday, December 7, 2010
Re/Max Housing Outlook for 2011
The following article was provided to me by Michael Polzler, Regional Director, RE/MAX Ontario-Atlantic Canada. Enjoy the article.
Residential values expected to climb further in 2011 as housing sales stabilize in most major centres, says RE/MAX
Mississauga, ON (December 7, 2010) - Although improved economic fundamentals will have a positive impact on Canadian housing markets moving forward, the forecast for residential real estate sales remains static in most major centres in 2011, according to the RE/MAX Housing Market Outlook Report released today by RE/MAX.
"In terms of resale housing activity, what many are talking about as the new normal is actually a return to the traditional real estate cycle," says Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. "The past decade was truly unprecedented - never before have we experienced a run up that was as strong or lasted as long. As we have digressed from the typical pattern, people have forgotten what the usual healthy cycle looks like, but all the hallmarks are there. Ample inventory levels, steady demand, and moderate growth, both in terms of sales and prices, will characterize the market in 2011. While the pace may appear lackluster in comparison to what we've grown accustomed to, it underscores the principles of real estate 101: The market is cyclical. All boats rise and fall with the tide."
Take a look at the Market Watch and you can do some comparing of the market in the past few years. All is available for you to read, or give me a call to discuss further. The market is cyclical. It goes up, prices get adjusted, interest rates go up and down. The Bank of Canada rate has been pretty steady, but that never guarantees that the individual banks will not raise their rates. The Bank of Canada has said that they will not be raising interest rates in the near future and it is possible that they may re-adjust slightly down if the US market still remains slow in recovery at the beginning of 2011.
Don't kid yourselves, homes are selling. They are selling quickly. It is more important than ever to price your property correctly in order to get it sold. If you're just testing the market, you're making a mistake. I don't believe that this is the time. Be serious and it will fall your way.
2011 is going to be an exciting year. Many changes in the real estate market. There are so many predictions. To discuss any concerns that you may have, feel free to give me, Betty, a call directly at 416 427 1875. Let's keep this line of communication open.
Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
Fine Homes In Nine Oh Five
Web Site: http://www.bettybart.com
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