February 1st - 2011

MARKET WATCH: Strong housing market predicted for early 2011

News of a strengthening economy and low interest rates may result in a stronger-than-expected housing market for early 2011.

News of a strengthening economy and low interest rates may result in a stronger-than-expected housing market for early 2011. According to a Royal LePage survey, the widely held consumer belief that rates will rise later in 2011 could prompt an increase in early-year buying.

The report states that, "Canadians realize that interest rates are unsustainably low and that homes will become effectively more expensive when mortgage rates return to normal levels. We will likely see more price appreciation early in 2011 as some buyers complete transactions in advance of anticipated higher borrowing costs." To view the report, visit www.royallepage.ca and go to “Media Room.”

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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