What kind of shape is the housing market in? How many homes are on the market? 70% of Canadians view their home as a place to live but 30% view it as an investment. 3  Curious about current stats? Read on!

  • Sales activity is expected to increase – National sales activity is expected to reach 485,200 units in 2015, which would mean an increase of 0.8%. 1
  • There are more homes on the market – at the end of March 2015 there was 6.1 months of inventory.2
  • Excluding Canada’s most expensive markets – Greater Vancouver & Greater Toronto – the national average sales price is $332,711. 2
  • Actual (not seasonally adjusted) activity went up by 9.5% in March 2015 compared to March 2014.2
  • 63% of Canadian homeowners do not expect housing prices to drop over the next 5 years.3

One of the best reasons to be a homeowner is to have a space to call your own. Next week we’ll look into Canadian mortgages and financial outlooks. The Canadian Association of Accredited Mortgage Professionals have some interesting information that we’d like to pass on to you.

If you would like to know what is going on in the local market, call or email Randy & Stan. They would love share their professional knowledge and local expertise.

Sources:
1. CREA, December 15,2014
2. CREA, April 15, 2015
3. CAAMP, Mortgage Insights 2015

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