July 20, 2010
Real Estate Market Expected to Cool Slightly
Did you know that the latest Royal LePage House Price Survey, released on July 7, predicts Canada’s residential real estate market will slow slightly in the second half of 2010? While market fundamentals remain strong across most of Canada, sales activity was ‘front-loaded’ in the first half of the year and is expected to cool off. Prices are also expected to steady in the second half of the year.
Phil Soper, CEO of Royal LePage Real Estate Services says, “An expected increase in the supply of homes on the market will bring stabilization in prices… This should not be interpreted as a severe correction but rather a natural reaction to the market having peaked quite early this year.”
