Saturday, 16 June 2012

Great News

The Canadian Real Estate Association said that the national home price and sales activity this year will be higher than it had been previously forecast, following a strong spring.

They are now forecasting that 475,800 homes will be sold in 2012, up 3.8 per cent from 2011, compared with earlier expectations of a gain of only 0.3 per cent. The average home price to rise by 2.2 per cent compared to earlier thoughts that it would fall 1.1 per cent.

 "National activity over the spring months was stronger than anticipated. This clearly shows how the continuation of low interest rates is keeping home ownership affordable and within reach". CREA president Wayne Moen said.

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