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. "

The housing market in Canada is in good health, according to economists

The property market has received Canadian Friday a bill of health from one of the largest banking institutions in the country, thus allaying the fears expressed by the Bank of Canada's debt levels too high for consumers .

In a report on real estate and stock markets, economists at CIBC World Markets argued that the concerns of the central bank were exaggerated even if it was right to make.

According to the chief economist of CIBC, Avery Shenfeld, Canada will not experience a crisis SIMILAR to that recently affected the housing market and mortgage lending in the United States.

Last week, Bank of Canada stated that the record level of debt of Canadian households was the first danger that threatened the financial system, a warning repeated in Toronto earlier this week by the Governor of the Bank, Mark Carney.

The institution was recognized that the risk was low, but was worried that, should a return interest rates to normal, more than 10 per cent of households have difficulty meeting their monthly payments.

Economists at CIBC vindicated Mr. Carney on rising interest rates, which likely occur during the second half of 2010, but does not believe that it will endanger a bulll, whether on the lending market mortgage or the ordinary shares.

Resale Property leaps in Canada

The number of transactions jumped 73% to 36 383 for existing homes if we compare this month with the same period in 2008.

The sale also set records in Quebec and Ontario.

Since the beginning of the year, the resale rose 5% to the country, the biggest gains being registered in Ontario and British Columbia.

The average price for a house is $ 337 000 in November, a slight decrease compared to October. However, it is 19% above that a year ago. The stocks on the market also dropped from 23% last year.

"Residential sales in Canada last month showed how far the housing market has rebounded since the beginning of the year," says Dale Ripplinger, president of the Canadian Real Estate.

"As we predicted last April, says he, the upturn in the residential resale market has enabled all of the Canadian economy out of recession."

The recovery will by cons side effects, said Gregory Klump, chief economist of the association. "The houses become less affordable in the market as the overall economy improves, and the group of buyers who will be eligible for funding will be fewer."

The housing market is for sellers

The market Homeowners being sold are located in a market that is favorable, says the Canada Mortgage and Housing Corporation.

According to CMHC, the real estate market has a ratio of six which is where the seller / buyer, this means that it is the sellers have the advantage.

The ratio is the same for the Greater Montreal and the South Shore and must be maintained for 2010, while it is slightly more favorable to vendors in the area of Laval.

According to CMHC, the market for real estate sales will stabilize next year before increasing again.

In addition, CMHC expects an average price of $ 279 000 for a house in Greater Montreal include South Shore in 2010, up approximately 4% of price.

Montreal : The lounge of the hotel property to be held from November 13 to 15

A good opportunity to discover the investment needed in French Canada. The fifth edition of the Real Estate Exhibition and condominium hotel will be in effect from November 13 to 15 at the Palace of Congress in Quebec city.

Wealth of information and contacts spread over nearly 200 exhibition booths, the fair will be an opportunity to meet suppliers of management, the best consultants in Quebec legal, brokers, insurers, service and maintenance renovation or decorators.

Canada : The construction of homes hit hard

Construction starts of new homes in Canada are expected to decline by 32.8% this year, according to the latest forecast from Canada Mortgage and Housing Corporation (CMHC), unveiled this week. A little less than 142 000 homes should have been initiated in 2009 against 211 056 in 2008.

The industry return to growth next year, with housing starts up views of over 16% in 2010, from 6% in 2011, 1% in 2012 and 6% in 2013. Several years will be needed before a return to activity levels last year: for 2013, CMHC predicts 187 150 starts of dwellings, or 32% more than in 2009 but still 11% less that in 2008.