The melt down of the U.S. real estate market has left many home buyers wondering if and how it may affect the housing market in Canada. Market analysts say the problems in the U.S. will have little impact on the Canadian market.
According to a recent house price survey report, Canada's resale housing market remained on solid ground during the 3rd. quarter, as high consumer confidence, strong employment rates and stable interest rates led to robust buyer demand and a rise in house prices. " Much like the Canadian dollar, the Canadian housing market is charting it's own course, quite independently from the United States and it's currency and housing market.
The strength of the Canadian dollar and the fact that the country is adjusting well to it's value, will continue to keep interest rates at low to moderate levels. Boding well for buyers looking to enter the market.
In Barrie 2007 was an exceptional year for residential sales. 2008 looks to be a very healthy market as well. With about a 3% to 4% increase predicted in prices. The addition of the GO Train connecting Barrie to Toronto should increase the desirability of buyers from the GTA looking for affordable housing.
All in all we expect 2008 to be another strong year in residential sales.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment