I have a unque view of the market as a Re/max agent in Toronto. In my day-to-day dealings, I understand the sentiment on the street. I have insight as to how the market is chaning on a day-to-day basis.
My experience in Today's market is that good inventory remains tight. The best homes are sold fast. To maximize interest, homes must be properly marketed and priced at fair market value. Buyers are more cautious than ever about about overpaying. The focus remains on buying on value.
According to the Canadian Real Estate Association (CREA), national resale housing activity picked up in September 2011.
Highlights:
- Sales activity rose 2.7 per cent in September from the previous month.
- Holding in line with the ten-year average, activity during the first nine months of this year pulled ahead of sales over the same period last year.
- The number of newly listed homes held steady when compared to the previous month.
- The national housing market tightened in September from the month before, but remains firmly entrenched in balanced territory.
- The national average price posted the smallest year-over-year increase since January.
A total of 361,749 homes have traded hands via Canadian MLS® Systems to date this year. This is 1.2 per cent above levels for the same period in 2010, and in line with the ten-year average.
The Canadian housing market remains a bright spot against a backdrop of mixed headline news about the global economy,” said Gary Morse, CREA President. “Low mortgage rates continue to draw buyers to the housing market, while recently tightened mortgage regulations are working as intended.
Asim Khan
Remax Legacy Realty Inc
Comments(1)