Housing to Return to Normal

By Elli Davis, October 8, 2010

Bird Houses by Steve Snodgrass

After not very successful summer, the Canadian housing market is expected to return to a more normal state during the fall, a new report by Re/Max released this Tuesday claims. In spite of the improvement, the company however, does not predict home sales to go back to the pace seen last year.

Economic uncertainty in the country played a very significant influence on the housing market during the summer, according to Re/max. This opinion is slightly different than many others. The most frequently mentioned factors affecting the market have been the threat of high interest rates, new harmonized sales taxes in Ontario and British Columbia as well as stricter mortgage regulations. But Re/max says these only had a nominal impact on the housing market.
What is good to see and read, are opinions which do not completely conform to the general consensus. Whatever the real reason, home sales have not been increasing much lately. What is true is that the number of luxury homes sold has increased.

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