The Housing Recovery has seemed to take hold across all of Canada. It all started back in the summer of 2009 where the activity for new builds and existing house sales started to increase. This trend continued into the fall and winter. Usually in the last two months of the year home sales slow but even through the winter months of November and December this increasing sales trend continued. Housing sales in 2009 were better than 2008 due to the extraordinary 4th quarter. In addition the average price of detached bungalows rose to $315,055 (up six per cent), the price of a standard two-storey home rose to $353,026 (up 5.2 per cent), and the price of a standard condominium rose to $205,756 (up 6.4 per cent).
This strong recovery in the housing market was attributed to the low mortgage rates as well as some pent up buyer demand. It is expected that this home sales trend and price appreciation should continue while interest rates stay low. As interest rates start to increase the hot real estate market will level off to more normal historical levels during the second half of 2010.
So if you are looking to purchase a property, now is an excellent time with low interest rates for the near future and continued price appreciation during the coming years. Contact us today to take your first step of mortgage financing to purchase you new property.
We are now on Twitter. Click Here to start following us and be the first to receive daily updates about interest rates and mortgage news.
Any questions at all about mortgage financing please refer to our newly designed website at www.yourmortgagecontact.com or call us today. In addition please let your family and friends know about Your Mortgage Contact. We appreciate all referrals and everyone always receives personalized service. Please contact Betty at 403-532-3927, e-mail bsaskiw_prolink@telus.net, Kevin at 403-589-3021, kevsas@telus.net or at our updated website: www.yourmortgagecontact.com
Sincerely,
Betty Saskiw, AMP
Mortgage Associate
&
Kevin Saskiw, CFA
Mortgage Assistant
No comments:
Post a Comment