Thursday, October 20, 2011

Canadian Home Prices are a Bright Spot in the Economy

When you turn on the news in your Brantford or Brant County home, chances are you hear something about how the global economy is in a state of turmoil. The real estate markets of several countries are struggling at the moment, and it’s hard to remain optimistic when the news is so consistently negative. It can definitely put a damper on your day.

For Canada, however, this isn’t the case. In Brantford, Brant County, and elsewhere in Canada, home prices were up in September, showing signs of a healthy and thriving real estate market. It seems that the Brantford real estate market is a bright spot in the global economy along with many other Canadian markets.

According to Canadian Real Estate Magazine, the average price in September reached $352,600. While this is below some of the record highs in median home prices this year, it’s also a gain over last years’ home prices at this time. Nationally, sales activity was up 2.7% in September as compared to August, and it was up 11% compared to a year ago. The Brantford and Brant County real estate markets remained stable, with an increase in inventory and a 13% increase from August 2010 sales. Overall, the local real estate market, while remaining stable, is showing healthy activity, which is a sign that now is a great time to buy or sell a home in the Brantford or Brant County areas.

Despite tighter lending restrictions, economic uncertainty and a strong increase in investor and first-time homebuyer activity, one factor allowed the national real estate market to stay healthy, and that was low mortgage rates. In contrast to what is happening elsewhere in the world, the tighter lending restrictions seem to be working for Canada and balancing well with lower mortgage rates. While the majority of the international headlines seem to be full of mixed news about the global economy, the Canadian real estate market is a bright spot, with consistently strong sales and price growth over the past several months.

Many industry experts and analysts suspect that the Canadian real estate market will remain steady through the next year, as the push and pull motion between low mortgage rates and other economic factors continues. Regardless, there is one thing that you should take away from these stats: now is a great time to make a move in the Brantford or Brant County real estate markets!

Whether you’re interested in investing in a Brantford foreclosure property, wish to find your dream home in Brant County, or want to put your Brantford home on the market, the numbers are suggesting that now would be the time to act. In order to have a successful and seamless real estate transaction, you need to make sure you consult the right Brantford real estate agent.

My many years of experience as a Brantford and Brant County real estate agent will insure that you get the right guidance and advice during your real estate transaction. If you have any questions, don’t hesitate to contact me! Whether you’re interested in investing in a foreclosure property or buying or selling a Brantford home, I’m here to help you along the way to success. I hope to hear from you soon!

Wally Dufrat
RE/MAX Twin City Realty, Inc. Brokerage
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