The Hintze Team Blog

An influx of new listings will slow price appreciation in major Canadian centres, says a report by Re/Max.

The company says 462,000 properties are forecast to change hands in Canada next year, making 2007 the third best year on record. After four years of double-digit gains, the average price is predicted to climb a modest five per cent to $290,000 by year-end 2007, up from $275,000 one year ago, says Re/Max.

“Strong economic fundamentals continue to fuel healthy residential real estate activity in markets across the country, despite what is happening south of the border,” says Michael Polzler, executive vice-president and regional director, Re/Max Ontario-Atlantic Canada.

“We are heading into another year of economic growth. Consumer confidence levels are strong. Unemployment levels are forecast to remain low. Oil prices are expected to hover at $60 per barrel. The Canadian dollar continues to climb. The Bank of Canada is holding the line on interest rate hikes. It’s all positive.”

A real estate salesperson is more than just a "sales person." They act on your behalf as your agent, providing you with advice and guidance and doing a job - helping you buy or sell a home.

The Internet has opened up a world of information that wasn't previously available to homebuyers and seller. The data on listings available for sale is almost current - but not quite. There are times when you need the most current information about what has sold or is for sale, and the only way to get that is with an agent.

If you're selling a home, you gain access to the most buyers by being listed in the Multiple Listing Service. Only a licensed real estate agent who is a member of your local MLS can get you listed there - which then gets you automatically listed on some of the major real estate web sites. If you're buying or selling a home, the MLS is your agent's best tool.

OTTAWA – October 4, 2006 – Canada’s resale housing market will edge past 2005 sales statistics to set new records in 2006, according to a revised forecast prepared by The Canadian Real Estate Association (CREA).

After setting the fifth consecutive annual record in 2005 at 483,233 units, CREA expects national resale housing activity to reach 483,265 units in 2006 – an increase of less than 0.1 per cent. Activity is then projected to ease by 4.8 per cent in 2007 as sales return to more normal levels.

After climbing 10.2 per cent in 2005, CREA projects that the national MLS® residential average price will increase by a further 11.4 per cent in 2006 and 6.0 per cent in 2007. Annual increases in average price will remain below 10 per cent in all provinces in 2007. Housing markets in Western provinces will remain tightest, with prices increasing at double the rate of other provinces.