Canadian real estate resales up!
Looks like Canada's getting back on track...
I found out that sales of existing Canadian homes rose 7 percent in March to 31,135 units, while the numbers were down 13.7 percent on an annual basis.
The Canadian Real Estate Association said in a release "March's increase was the second consecutive monthly gain following a 10.3 increase in February." I'm assumming this means more commerce, thus this is good for our economy.
Apparently housing markets are starting to show signs of buyer interest because of lower prices and interest rates, and since I am in the "kinda sorta maybe" buying mode right now, this is great news for me :) - but is it sustainable for growth as a country? I don't know much about this market aside from reading this haha.
Apparently the association also said the average residential price for homes sold in March was $288,641, down 7.7 percent from March 2008. Like I said, being new to the buyers market does anyone know what this means for the long term value of houses? obviously "buying low" and "selling high" makes sense... but from more of a macro view, what does this mean for econmic growth in this market (like will the sellers market become saturated with cheap houses with no buyers in our next financial peak?)
I'm a bit frustrated as to all of this... can anyone offer some guidance?
I found out that sales of existing Canadian homes rose 7 percent in March to 31,135 units, while the numbers were down 13.7 percent on an annual basis.
The Canadian Real Estate Association said in a release "March's increase was the second consecutive monthly gain following a 10.3 increase in February." I'm assumming this means more commerce, thus this is good for our economy.
Apparently housing markets are starting to show signs of buyer interest because of lower prices and interest rates, and since I am in the "kinda sorta maybe" buying mode right now, this is great news for me :) - but is it sustainable for growth as a country? I don't know much about this market aside from reading this haha.
Apparently the association also said the average residential price for homes sold in March was $288,641, down 7.7 percent from March 2008. Like I said, being new to the buyers market does anyone know what this means for the long term value of houses? obviously "buying low" and "selling high" makes sense... but from more of a macro view, what does this mean for econmic growth in this market (like will the sellers market become saturated with cheap houses with no buyers in our next financial peak?)
I'm a bit frustrated as to all of this... can anyone offer some guidance?
Replies to This Discussion
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Permalink Reply by Tony Mcintyre on -
Yes Andrew the wealthy are cleaning up on the spoils and grabbing up the destressed properties thier friend in the banking community have freed up with this manufactured depression .This is all about lowering standards of living so we can compete with the slave ecconomies ,free trade ,no rules no mercy ,can't read the fine print ,neither can a lawyer .Dishonest practices of the most powerful ripping off honest hard working people .yes sales are up.
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