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Real Estate National Average Prices And Sales Activity Are On Their Way Up

The Canadian Real Estate Association (CREA) has announced that, while home prices are still under what they were a year ago both national average prices and sales activity are on their way up.

(Free-Press-Release.com) July 30, 2009 –
CREA President Dale Ripplinger explains the current market by noting, “First, price adjustments in some markets have helped affordability. Second lenders do have money for people and properties that qualify, although some are being more stringent. The third factor involves consumer confidence, which has risen in the housing market through the spring.”

With sales activity rising strongly and new listings edging lower, CREA reports that the balance between supply and demand is firming up in British Columbia, Alberta, Ontario and Quebec. As a result, the April 2009 national sales’ new listings reached the highest point ince February 2008. In addition, the residential dollar volume for MLS sales climbed 12.3 percent from the previous month to reach $10.2 billion – the biggest increase since December 2001, and the first time since September 2008 that dollar volume surpassed $10 billion.

This entry was posted on Monday, August 3rd, 2009 at 12:13 pm and is filed under The World Of Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Diana Evans said at August 3rd, 2009 at 8:43 pm

   Hi Andrew….I see this everywhere…everything will be heading up…

   Have a wonderful day!

2. Andrew McKay said at August 4th, 2009 at 10:15 am

   Hi Diana,

   I will get July figures for the Georgian Triangle later and hopefully this will continue the trend set in June. We have had nothing like the property crash in the US and prices have been stable around here although the actual number of sales did dropped dramatically. A short sharp shock although painful at the time late in 2008 came just in time and bought some reality to the market place; we couldn’t continue to live on credit.
   I think the last thing we need is another property boom with maybe a bigger , more severe crash. A nice stable market would be my wish.

   I’m currently reading “And Then the Roof Caved In: How Wall Street’s Greed and Stupidity Brought Capitalism to Its Knees” and it is quite frightening.

   Have a great day,
   Andrew

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