End-of-summer real estate special - Macleans.ca

End-of-summer real estate special

What you can get in Canada for $150,000 to $1 million



While home prices south of the border have yet to recover from the recession, in Canada, the economic downturn has barely made a dent in them. In fact, sales were so robust through the early months of the summer that the Canadian Real Estate Association now predicts house prices will be up 1.5 per cent this year and sales will reach 2008 levels—a sharp departure from the 14.7 per cent drop in the number of sales CREA had originally anticipated. “The difference in the resale housing market now, compared to the beginning of the year, is night and day,” says CREA President Dale Ripplinger, “and nowhere is this more evident than in the West.” Average prices are now expected to rise in all provinces except Alberta, where they are expected to fall by 4.4 per cent, and British Columbia, where they are expect to remain stable.

Click below to see what’s available in some of Canada’s largest markets.

150k 350k
500k 1mil

Filed under:

End-of-summer real estate special

  1. The Canadian Real Estate Association reported that realtors sold 50,270 units sold via the multiple listing service last month. That's an 18.2 per cent jump from a year ago. It also marked the first time sales had topped 50,000 in July.

  2. Simply more people going into debt, as a result of low interest rates and the real estate industry's "best time to buy" propaganda. Hope they have secure funding, and a stable job for those 25 year debt instruments they've commited to.

  3. According to the BCREA – BC's housing markets have faired extremely well since the beginning of the year. However, higher prices are again eroding affordability in some markets and by all accounts growth in the economy is expected to be at a modest pace next year. Greater stability in BC's housing markets is forecast through 2010.