Luxury Home Sales Grew Significantly in 2006

Posted in Real Insights | May 11, 2007

Did you know that unit sales of luxury homes increased dramatically in 2006? The Royal LePage Carriage Trade Report found that luxury home sales out-paced the general market across Canada. The surge in luxury home sales ranged from just over 20% in Toronto to more than 150% in Calgary and Halifax. “The pronounced increase in the number of luxury homes sold is a strong reflection of Canadians’ confidence in the economy and the real estate market,” said Phil Soper, CEO Royal LePage Real Estate Services. If aspirations are a factor, this market will stay strong, as fully one-third of Canadians either live in a luxury home now, plan to buy soon or aim to live in a luxury home in the future.  (January 27, 2007)