February 15, 2010
Royal LePage Market Forecast for 2010
Canada’s residential real estate market is forecast to remain strong through the first half of 2010 as economic conditions improve and the impact of low interest rates stokes demand, according to Royal LePage’s Market Survey Forecast. As confidence builds in early 2010, increases in average house price levels and overall market activity are expected to continue.
“The Canadian real estate market enters 2010 with considerable momentum from a strong finish to the previous year,” says Phil Soper, Royal LePage CEO. Strong demand, coupled with seasonal undersupply of homes for sale, should cause home prices to appreciate during the early months of the year. Improving supply as the year unfolds should moderate home price increases in the second half of 2010.
