Monday, November 15, 2010

Resale Market....Less excitement in store for 2011

Canada Mortgage and Housing Corporation (CMHC): Date Released Fall 2010

The Greater Toronto Area’s resale market is expected to normalize in 2011. After an unprecedented level of volatility experienced over the past couple of years, sales will settle into a range reminiscent of the 2003-2006 period — decent volumes without dramatic movements.

One change on the horizon is an absence of the seller’s market conditions the GTA has been accustomed to for much of the past decade.

Buyers can sigh in relief as prices will see very little movement from today’s levels. While developments in the housing market will likely attract fewer headlines in the coming year, take that as a sign that we have transitioned towards a more sustainable level of activity reflective of the current economic environment.

Click here to read the complete report from CMHC...

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