Canadian Mortgage
As housing markets and credit in the United States are suffering a crisis in mortgage markets adjusted to the north of the border also have some felt that the recession in the U.S. sector.
However, as most observers are eager to take account of the real estate sector in general in front of Canada remains strong, with recent data from Canada Mortgage and Housing Corporation, housing markets housing prices here are still vibrant, in all provinces continue to grow and remain fairly comp0etitive.
Despite high prices, this year will be a good thing for new buyers Montreal
In a recent study published by the Canadian Real Estate Association and the Society for the Canada Mortgage and Housing Corporation, the two noted that the rate of homeownership in big cities like Montreal, reached its apogee. The Most analysts expect a slowdown this year, and cite as following reasons moderate employment growth from 2003 to 2005 provided marginal increases in Mortgage Rates, and increases in real estate over the past three years.
CMHC, however, note that means a better year for buyers, because the choice and housing prices have stabilized. Since prices Most of the houses were at their highest level since the 1980s, and prices for a single family home rose an average of 14 percent. Observers predict that the market can not get warmer and will remain strong despite the slowdown.
CMHC notes that the market is expected to increase the supply and allow more options. The main selling prices are however expected to increase, however, the Council does not expect Canadian real estate, which drastically. One aspect positive is that currently there is an increase in immigration to Quebec, and the constant demand for condominiums, This will keep the housing market strong and viable hotel.
The stronger Canadian dollar helps support the housing market
With the rising Canadian dollar against the U.S. dollar, many analysts see this as a positive aspect for the energy sector Canadian-owned. According to them, plus the rise of the dollar more attractive to investors it would put his money in the Canadian real estate market.
Analysts also note that the lists of new homes up to 11%, and the cover are also 13%. The number of units sold in the Montreal region is 5%, the volume is up 12%, and average price of a single%-family homes are also a 7, since they from $ 197,000 to $ 211,000.
Based on recent statistics compiled by the Canadian Association of RealEstate (CREA), National home sales in the first half of 2007 increased by 8.2 percent year over year to 287,862 units.
Home sales in the first half of the year increased significantly compared with the levels of the same period last year mainly on the very Canadian province, including Quebec. New quarterly records for home sales have also been observed in the provinces of Alberta, Saskatchewan, Manitoba, Ontario, Quà © bec, New Brunswick and Nova Scotia.
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