Home Prices to Drop?
By Elli Davis, June 5, 2010
House of Cards by Andy Schultz
The prices of Canadian homes are going to drop in 2011! This is a prediction released by the Canadian Real Estate Association on Wednesday. The association expects the home prices in our country to drop by 2.2 percent during the next year. The main factors influencing the fall are the poor figures in two of the important provinces – Ontario and British Columbia.
In comparison, CREA forecasts that from 2009, the average price for a home will go up by 1.6 percent to $325,400 this year. Not a fall, which is good news, but the original predictions were much more positive. Initially, Canadian home prices were expected to rise about 5.4 percent.
A loss of optimism is what I would call these changing forecasts. At the end of 2009 and beginning of 2010 the situation seemed to be maybe a little too idyllic, now people are starting to see it cannot be perfect forever.
Canadian Home Prices to Drop
Home Resale Prices Fell
Home Prices Declined
Resale Home Prices in Canada
Another Home Prices Rise
Royal LePage Ltd. Brokerage
Direct line: 416-921-1112 or Toll Free 1-800-622-9536 | Email:
Peter Rzazewski thought on June 5th, 2010 10:11 am
Great Twitter use, Elli. And I really appreciate the short article too! (and it comes as somewhat good news as we are looking for a new property…nice to know that CREA thinks prices might drop).
A few paragraphs, get’s right to the point, coupled with a very well laid out and clearly professionally designed website–all makes for a very friendly, usable website… I’m definitely reading your other articles now.
There aren’t many realtors in the GTA that are as media savvy as you are. Great work.
Regards,
Peter
StoneHome Photo