CREA (The Canadian Real Estate Association) has recently revised its annual resale housing forecast. This reduction of annual forecast was due to weak sales activity in third quarter of 2010. However, it is important to note that sales have improved so far in the fourth quarter, suggesting a stabilizing resale housing market. CREA also noted that based on a year to year comparison, resale levels may remain reduced into 2011 due to strong activity in late 2009 and early 2010.
CREA reports that housing supply and demand is stabilizing. This is an advantage to home buyers and sellers as it will result in price stability as the housing market is balanced. If interest rates continue to be low and stable the resale housing market is likely to remain balanced.
To read more about the figures and forecast of CREA, click here.
Until next time,
Jamie
Showing posts with label supply and demand. Show all posts
Showing posts with label supply and demand. Show all posts
Friday, November 19, 2010
Tuesday, November 16, 2010
Real Estate Sales for October
We’ve entered the last quarter of the year, it's hard to believe we are almost at the end of 2010 already! In the Real Estate world, home sales have been stable since the third quarter of this year. The average price for homes sold in Barrie and District over the past ten months is up seven percent from the first ten months of 2009. What’s next? Will the market continue to be stabilized? Well here’s an update on sales activity for October in Barrie and District.
Since August 2010, residential property sales have consistently increased, edging up one percent in October over steady increases in August and September, on a seasonally adjusted month-to-month basis. However, the data also shows residential sales remained below last year’s record levels for the month of October. These records are from the MLS® System of the Barrie & District Association of REALTORS® Inc.
According to the President of the Barrie and District Association of REALTORS®, Catherine Gabe, the Real Estate sales market is now calmer as compared to early this year and buyers seem to be taking their time in making their buying decisions. To read more about the figures of real estate sales, click here.
At the present time it seems like we’re looking at a continuous balance of supply and demand in the real estate market, although in comparison to last year at this time sales remain lower than those record levels.
Until next time,
Jamie
Since August 2010, residential property sales have consistently increased, edging up one percent in October over steady increases in August and September, on a seasonally adjusted month-to-month basis. However, the data also shows residential sales remained below last year’s record levels for the month of October. These records are from the MLS® System of the Barrie & District Association of REALTORS® Inc.
According to the President of the Barrie and District Association of REALTORS®, Catherine Gabe, the Real Estate sales market is now calmer as compared to early this year and buyers seem to be taking their time in making their buying decisions. To read more about the figures of real estate sales, click here.
At the present time it seems like we’re looking at a continuous balance of supply and demand in the real estate market, although in comparison to last year at this time sales remain lower than those record levels.
Until next time,
Jamie
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