According to a press release issued early this year, The Canadian Real
Estate Association (CREA) is forecasting stronger sales than expected through
this summer and fall. In the past 6 months the Teranet – National Bank House
Price Index has reported month over month increases in house prices which would
seem to signify the same.
The CREA release seems to credit the west coast for stronger increases
than expected, while increases were weaker moving to the eastern side of the
country. Projections were revised to include increased sales in BC, Alberta,
Saskatchewan, Manitoba and Ontario – while Ontario’s numbers were noted to
increase marginally.
According to CREA it is anticipated that nationally home prices will
climb by approximately 3.7% in 2014, with the highest increases expected to
occur in BC (an anticipated 8.4% increase). CREA touts Calgary, Toronto and
parts of Quebec as areas where markets are well balanced and there is far more
demand than supply.
The question is, if property prices are on the rise signifying more
supply than demand, what does this mean to you and are you experiencing an
increase in business?
You can read the full press release here http://www.propertywire.com/news/north-america/canada-house-price-outlook-201401028629.html.
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