Canadian Housing Market Normalizes
The Canadian housing market had been somewhat unpredictable over the last three years. It was hot in 2007, then there was a world financial crisis in late 2008, with some reasonable return to normalcy in late 2009 and 2010.
So, finally the pundits are prepared to admit that we now have normal market conditions. That basically means that no one is apt to express unduly optimistic or pessimists views.
If you simply examine longer range time periods, like 7 to 10 years, then nothing much happened in the market. It’s only when to look month to month and compare the market to the previous year’s sales activities that there are wild and somewhat unpredictable patterns.
It is clear that Canadians value real estate as an investment, even more so, after the great stock market crash in October 2008.
Sales across the country are taking place, inventory is appropriate, interest rates attractive and the cost of housing in terms of its percentage share of household income remains at about 32%.
Both TD Bank and BMO indicated that the market is starting to “normalize”, as did the Canadian Real Estate Association.
That means it’s a good time to buy, and it’s also a good time to sell.
Brian Madigan LL.B., Broker is an author and commentator on real estate matters, if you are interested in residential or commercial properties in Mississauga, Toronto or the GTA, you may contact him through Royal LePage Innovators Realty, Brokerage 905-796-8888
www.OntarioRealEstateSource.com
The Canadian housing market had been somewhat unpredictable over the last three years. It was hot in 2007, then there was a world financial crisis in late 2008, with some reasonable return to normalcy in late 2009 and 2010.So, finally the pundits are prepared to admit that we now have normal market conditions. That basically means that no one is apt to express unduly optimistic or pessimists views.
If you simply examine longer range time periods, like 7 to 10 years, then nothing much happened in the market. It’s only when to look month to month and compare the market to the previous year’s sales activities that there are wild and somewhat unpredictable patterns.
It is clear that Canadians value real estate as an investment, even more so, after the great stock market crash in October 2008.
Sales across the country are taking place, inventory is appropriate, interest rates attractive and the cost of housing in terms of
its percentage share of household income remains at about 32%.
Both TD Bank and BMO indicated that the market is starting to “normalize”, as did the Canadian Real Estate Association.
That means it’s a good time to buy, and it’s also a good time to sell.
Brian Madigan LL.B., Broker is an author and commentator on real estate matters, if you are interested in residential or commercial properties in Mississauga, Toronto or the GTA, you may contact him through Royal LePage Innovators Realty, Brokerage 905-796-8888 www.OntarioRealEstateSource.com
The Schacter Team - Langley Real Estate