Canada : Resale of homes - the dope December 2009

The market for resale houses reached a "record high" in December, which has boosted annual sales above the results achieved in 2008.

He has indeed sold 27 744 units across the country last month, through MLS (Multiple Listing Service). This represents an increase of 72% compared to December 2008. It must be said that while the market had fallen to a floor that had not been seen for a decade.

The markets in Ontario, Quebec, Saskatchewan, New Brunswick and Newfoundland and Labrador have all recorded new highs for the month of December, according to statistics published by the Association of 'Building (ACI).

"In 2009, sales have been slow to start, but finished the year in good shape," said CREA President, Dale Ripplinger. As interest rates are still exceptionally low, it is possible that domestic sales remain near current levels over the coming months. "

Recall that after a sluggish start to the year, the resale market has posted gains in the 2nd and 3rd quarters. But it was really the last quarter of the year makes all the difference with a 59% jump in the number of transactions.

A total of 465 251 houses have changed hands through the MLS system in 2009. "This represents an increase of 7.7% compared to 2008 results, and the fourth highest annual level recorded to date," said CREA. Compared to 2007, however, the annual activity remained lower by 10.7%.

New average price in Canada: 348 840 $

In 2009, the average home price in major Canadian markets increased 5.5% over the previous year to $ 348 840 $.

"The latest statistics from the AIT surely provoke the usual rumors of speculation, said the chief economist at CREA, Gregory Klump. The wisest recognize that most increases occurred recently indicate temporary factors that could disappear by next summer. "

"In the second half of 2010, the price increases probably accuse a significant decline since a year has elapsed since the decline and recovery," he added. [...] The market should regain balance and price increases will be smaller in the second half of the year. "