Kiyoko Fujimura
Buzzbuzzhome Corp.
July 30, 2010
During the month of June, CREA lowered its home sales forecasts to 490,600 units in 2010. However, after weaker-than-expected spring sales, CREA has once again lowered its projections.
The number of resale homes sold in Canada is forecast to hit 459,600 in 2010, a 1.2 per cent decline from 2009.
But, on the bright side (for sellers at least), prices are expected to increase by 3.5% in 2010. 2011 is a different story altogether.
Sales are projected to drop even further, by 7.3 per cent, to 426,100 units in 2011. The national average price is then forecast to ease by 0.9 per cent to $328,600 in 2011.
Not so great, but it’s definitely not going to be a giant bubble burst like our irresponsible neighbours to the South. Really, prices have made double-digit gains in the past year, so an easing of 0.9% isn’t that bad at all.
But don’t fret. They’re probably wrong anyway.
July 30, 2010
Posted in Uncategorized
