Canadian Home Sales Stable In July
OTTAWA - August 16, 2011 - According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity was stable on a month-to-month basis in July following an uptick in July.
"The continued stability in national sales activity shows that homebuyers remain confident about the soundness of investing in a home," said Gary Morse, CREA's President. "Mortgage interest rates are low and keeping home affordability within reach, making it an excellent time for buyers to take advantage of very favourable financing. Prices and affordability evolve differently among local markets, so buyers and sellers should consult their local REALTOR® to better understand how the outlook for housing supply, demand, and prices is shaping up in their housing market."
"The national share of sales activity in some of Canada's more expensive urban centres may retreat further from elevated levels recorded earlier this year, resulting in an easing trend for the national average home price," he added. "Even so, the stability of Canada's housing market will likely continue to stand in stark contrast to further expected volatility in financial markets." Read the complete article ...