January 15, 2011
Moderate and Steady Real Estate Market Expected
Did you know a strengthening economy and low interest rates point to a stronger than anticipated 2011 real estate market? Year-over-year price increases hit the 3.9-4.6% range by the end of 2010 as markets shrugged off a lacklustre 3rd quarter and returned to a post-recession growth profile. Home values are forecast to continue a moderate and steady climb in many key housing markets through 2011, according to the latest Royal LePage House Price Survey and Market Survey Forecast. Royal LePage CEO explains, “Canadians realize that interest rates are unsustainably low and that homes will become effectively more expensive when mortgage rates return to normal levels. We will likely see more price appreciation early in 2011 as some buyers complete transactions in advance of anticipated higher borrowing costs.”
