Canada's Housing Market Unexpected Bright Spot

Canada's housing market has proven to be an unexpected bright spot during the recession.  It seems for many potential home-buyers that it was global-wide uncertainty rather than personal financial circumstances that was holding them back from making a home purchase at the end of 2008.

At that time, reading the headlines, listening to the radio or watching television, one might have the idea that it was no so easy to determine what was happening in the real estate world.  Even if you figured it out, conditions were changing rapidly, just like the weather.  That is why talking with your realtor who keeps up with the local real estate market is important.  It can help you make sense of what is happening and why.  Unlike the media, we do no stereotype the market because not only are there geographic differences that define real estate markets but also other varialbles come into play.

Sometimes high-end homes sit on the market while more affordable properties sell before the sign goes on the lawn.  A month later, it can be the other way around.  You will also see differences between the new home and resale home market, especially as Halton Region continues to develop rapidly.  We also don't count on a national outlook to explain local market trends.  We fine tune our outlook to neighbourhoods.  A neighbourhood on one side of town could be appreciatig month by month, while homeowners on the other side cannot see as much movement.  Just like the weather - have you ever seen it rain in one part of town and another not get a drop?

Real estate industry analysts are predicting a very active first six months in 2010.  If you are planning a move in 2010, then you should be talking to me no later than January to develop your buying or selling strategy and
discuss mortgage rate predictions.  I look forward to speaking with you.