Housing sales rose in September for a second straight month while average prices reversed the falling trend with a 1.9% increase from August, the Canadian Real Estate Association said Friday.
The Canadian Real Estate Association (CREA) has reached an agreement in principle with the Commissioner of Competition regarding the application before the Competition Tribunal, subject to the approval of CREA’s member boards at a Special General Meeting in St. John’s, Newfoundland on October 24, 2010.
After a strong finish to 2009, and a robust first quarter of 2010, housing starts have moderated.
September home sales in Greater Vancouver were consistent with activity experienced in the preceding two months across most categories.
Your house is for sale for $350,000, and you’re confident it’s well-priced. You get an offer, but it’s for $300,000, and you’re stunned and disappointed by how low it is.
That seller might still end up with an acceptable sale price. The key is being ready.
If you’ve decided to buy a house, you may be wondering where to begin — find a real estate agent? Go to open houses? You’ll have to juggle a number of tasks simultaneously, ranging from the fun to the tedious. The preview below will alert you what’s ahead and link you to other key information.
Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3,441 sales in August 2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010.
The Canadian Real Estate Association (CREA) says national home sales activity continued to trend down in July 2010. The decline was almost entirely the result of fewer sales in British Columbia and Ontario. A slowdown in demand in these two provinces had been widely expected in July, as many purchases were brought forward into the first half of the year in advance of the introduction of the HST.
Canada’s real estate market is due for a “moderate correction” with homes that are anywhere from 10 to 15 per cent overvalued, says the TD Bank.
“The excessive pricing of Canadian housing in relation to fundamentals is now clearly correcting,” TD Bank economist Grant Bishop said in an economic note Monday. “We expect a moderate correction in prices over the coming year.”
A year ago, British Columbia’s real estate markets were rising to a peak in sales. In July, they dramatically fell off it.
Sharp drops in sales in B.C.’s biggest markets led the province to a 42-per-cent decline in July sales through the Multiple Listing Service compared with the same month a year ago, the B.C. Real Estate Association reported Thursday.