Canadian housing market had strong finish to 2009
Filed Under Main Content · Tagged: Commercial News, Daily News, Existing Home, First Quarter, Housing Market, Interest Rates, Late Spring, Low Mortgage, Mortgage Rates, New Home Construction, New Home Purchase, News Canada, Prelude, Residential Resales, Second Half
Daily Commercial News-
The housing market in Canada has been stronger in the second half of 2009 than was widely anticipated. That has been particularly true for residential resales.
The first quarter of 2009 was nearly disastrous for the existing home market, but all of that turned around in late spring and early summer. Record low mortgage rates have done the trick.
Potential homebuyers know that they are not likely to ever see interest rates this low again.
As for new home construction, it is worth remembering that an existing home sale is often a prelude to a new home purchase.
Canadian housing market had strong finish to 2009 – Daily Commercial News
