May 2010

The Canadian Real Estate Association (CREA) released a new report today indicating that home prices will stabilize, and will remain stable for some time. This means that Canadian homeowners are unlikely to experience a U.S.-style decline in the value of their homes. “The relationship between average price and income has recently been cited as portending a U.S.-style correction in Canadian home prices,” said Gregory Klump, Chief Economist, CREA.

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U.S.-Style Home Price Correction Unlikely in Canada

DURHAM REGION May 19, 2010 – The Durham Region Association of REALTORS® (DRAR) reported 525 sales in the first half of May 2010, an increase of 13% from the 464 sales reported mid-month in May ’09. Year-to-date sales are up 45% to 4,081 compared to 2,815 sales during the same term in 2009. “As was forecasted, the average selling price for single family homes has begun a modest descent as the market begins to stabilize.” Dierdre Mullen, President of the Durham Region Association of REALTORS® noted

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May Resale Housing Market Balancing Out

(OTTAWA – May 17, 2010) Home sales activity in Canada came up short of the record for the month of April and new listings continued to climb, according to statistics released by The Canadian Real Estate Association (CREA). Residential sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards numbered 52,042 units in April 2010. This is less than one per cent short of the record for national sales activity during the month of April, which was set in 2007

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Canada’s hot resale housing market starting to cool

Oshawa MP Dr.

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Durham REALTORS Lobby Their Issues on Parliament hill

DURHAM REGION – May 7, 2010 – Durham Region Association of REALTORS® reported a record 1,185 sales of single family homes in Durham Region during the month of April through the Multiple Listing Service® (MLS®), representing a 41 percent increase compared to April 2009. Comparably, the number of available listings also continued to rise, offering a total of 2,426 resale homes for sale during April, 14 percent more than March 2010. “The trend across all of the GTA, including Durham, is that listings continue to increase as sellers recognize the strong sales and price growth within the housing market” explained Dierdre Mullen, President of the Durham Region Association of REALTORS®.

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Record Sales in April for Durham Housing Market

APRIL HOUSING MARKET CONTINUES TO BE STRONG DURHAM REGION April 20, 2010 – The Durham Region Association of REALTORS® (DRAR) reported 503 sales in the first half of April 2010, an increase of 33% from the 378 sales reported mid-month in April ’09. Year-to-date sales are up a whopping 53% to 2,912 compared to 1,903 sales during the same term in 2009. “The average selling price for single family homes has also experienced a sharp increase over the prior year” Dierdre Mullen, President of the Durham Region Association of REALTORS noted.

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APRIL HOUSING MARKET CONTINUES TO BE STRONG!