Shaky days in the housing market
Filed Under Main Content · Tagged: 9 Months, Canada, Canadians, Current Rate, Decade, Globe And Mail, Globe Mail, Houses Sold, Housing Market, Pullbacks, Real Estate Board, Real Estate Board Of Greater Vancouver, Rush, Shaky Days
The Globe and Mail- After several months of small pullbacks, the number of houses sold in some of Canada’s largest markets plummeted in July. There are plenty of factors at work – most notably the rush of buyers earlier in the year who wanted to avoid new taxes in B.C. and Ontario – but the Real Estate Board of Greater Vancouver said July was one of the slowest months for home sales in at least a decade.
As prices moved higher in 2009 and 2010, many Canadians rushed to get their houses on the market. The number of houses listed has peaked just as demand cools. At the end of June, CREA said it would take 6.9 months to sell all the listed homes in Canada given the current rate of sales – the highest level since March 2009. Sellers face a choice. Take their listings down, or settle for less…
Shaky days in the housing market – The Globe and Mail
Real estate sales sag in Greater Victoria
Filed Under Main Content · Tagged: Banks, Consumer Confidence, Decreases, Economy, Greater Victoria, Homes Sold, Inventories, Inventory Levels, Mortgage Rates, Multiple Listing Service, Observers, Real Estate Board, Real Estate Sales, Rush, S Multiple Listing Service, Signs, Victoria Real Estate, Victoria Real Estate Board, Victoria Times Colonist
Times Colonist- Home sales cooled and inventory continued to rise last month as some real estate buyers in Greater Victoria chose to take the time to shop around.
A total of 625 homes sold in June through the Victoria Real Estate Board’s Multiple Listing Service. That was down from 695 sales in May and about a third less than the 946 sales in June a year ago.
Meanwhile, for-sale signs continued to sprout as inventory levels rose to 4,730 properties, up 25 per cent from the 3,794 available a year earlier.
Major banks last month inched some mortgage rates down, but the small decreases didn’t create a rush into the market as potential buyers mulled over increasing inventories for better deals. Observers also note waning consumer confidence in the overall economy may be a factor in the softening market…
Real estate sales sag in Greater Victoria
December jump in housing sales drives up Greater Vancouver home prices
Filed Under Main Content · Tagged: 1980s, Bank Of Canada, Economy, Greater Vancouver, Housing Sales, Lows, Mortgage Rates, Real Estate, Rush, Second Half, Slashing, Upward Slope, Vancouver Sun
Vancouver Sun- After plummeting to lows not seen since the 1980s, Lower Mainland real estate markets saw a rush in the second half of 2009 that pushed sales well above an economically challenged 2008 and prices back on an upward slope toward previous peaks.
Aided by the slashing of mortgage rates, cut to the bone in step with the Bank of Canada’s measures to stimulate the economy, new buyers poured into the market…
December jump in housing sales drives up Greater Vancouver home prices
Hot housing market could trigger rate hikes: TD
Filed Under Main Content · Tagged: Canadian Real Estate, Canadian Real Estate Association, Homebuyers, Hot, Housing Market, Housing Sales, Mortgage Rates, Rate Hikes, Real Estate Association, Rebound, Resale Home, Rush
Financial Post- Canadian housing sales have surged in recent months with a rush of homebuyers lured by attractive mortgage rates, leading to a rebound in resale home prices. The Canadian Real Estate Association estimate of national homes sales was up 18.5% year-over-year in August, and national average home prices had increased 11.3% year-over-year…
