More Positive News On House Sales

“Housing sales show two-month rebound” was the headline in The Financial Post on April 16th.

For the second month running the number of homes sold in Canada  rose. March figures showed a 7% increase on February; February saw a 10% increase on January.It is too soon to be called a recovery but it is positive news. At the very least it may signal the return of some confidence to the real estate market.


According to The Post there are a number of influential factors:

  • Government incentives

    • Increase in the allowable withdrawal from registered savings plans for first-time buyers to $25,000 from $20,000
    • Tax credit of $5,000 home buyers may count against their incomes
  • Large inventory of homes for sale

I can almost hear the Beatles singing ” I read the news today, Oh Boy.”