Property bubble fears unfounded in Canada
Not too long ago there was genuine concern for the future of the markets for real estate in Canada – several experts believed a property bubble was forming but latest results from the Canadian Real Estate Association have silenced the scaremongers.
Three quarters of the way through 2011 and residential real estate sales have surpassed levels set during 2010 which would suggest that property for sale in Canada remains well balanced and sits within the boundaries of the ten year average.
The year to date shows a total of 324,030 residential properties have successfully sold through the MLS Systems which is slightly higher than for the same time period of 2010.
According to CREA statistics last month saw the most amounts of balanced local markets than any other period on record. Confidence remains strong among consumers helped by the continuation of low interest rates and buyers and sellers alike are keen to move on up the property ladder.