February 4th - 2010

MARKET WATCH: Strong market gains expected to continue through first half of 2010

Canada's residential real estate market is forecast to remain unusually strong through the first half of 2010, according to the Royal LePage Market Survey Forecast and House Price Survey.

Canada's residential real estate market is forecast to remain unusually strong through the first half of 2010, according to the Royal LePage Market Survey Forecast and House Price Survey. The survey reports state, “As confidence in the recovery builds in early 2010, increases in average house price levels and overall market activity are expected to continue. The gradual erosion of affordability driven by higher house prices and the expected late-year modest upward movement of interest rates, together with an improvement in listings supply as confidence improves, are expected to bring the market back into balance in the second half of the year when home price increases are expected to moderate.”

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For more information contact

Ontario Real Estate Association

Jean-Adrien Delicano

Manager, Media Relations

JeanAdrienD@orea.com

416-445-9910 ext. 246