Real Estate Market Stays Strong in Q3 2007

Posted in Real Insights | October 23, 2007

Did you know that the Royal LePage House Price Survey showed continued overall strength for Canada’s housing market in the 3rd quarter? High consumer confidence, strong employment and stable interest rates were cited as factors supporting demand. Royal LePage CEO Phil Soper elaborated, “Much like the Canadian dollar, the Canadian housing market is charting its own course, quite independent from the United States and its currency and housing climate.” Recent reports also cite growing home ownership rates. Soper explained, “With the cost of borrowing money remaining relatively low, the availability of longer mortgage amortization periods, and the fact that Canada’s population continues to grow, it is no surprise that more and more people are entering the real estate market.”