January 3rd - 2011

MARKET WATCH: More balanced 2011 market predicted for homes

The market for resale homes in Canada was firmer for a third straight month in October 2010, suggesting a soft landing for the once red-hot sector and stable market conditions for the next two years, according to industry reports.

The market for resale homes in Canada was firmer for a third straight month in October 2010, suggesting a soft landing for the once red-hot sector and stable market conditions for the next two years, according to industry reports. In October, 35,714 homes changed hands according to CREA, up 4.6 per cent from September, with sales rising in three quarters of markets tracked. However, sales were still down 21.6 per cent from the previous year. October sales stood halfway between the recessionary low of December 2008 and the record high of December 2009, suggesting that the market is returning to normal, CREA reports.

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Uncertain forecast for commercial markets in 2011 New mobile application for hand-held house hunting

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Ontario Real Estate Association

Jean-Adrien Delicano

Manager, Media Relations

JeanAdrienD@orea.com

416-445-9910 ext. 246

Ontario Real Estate Association
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