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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

OTTAWA – March 15, 2010 – With rising activity in Toronto offset by lower activity in Vancouver, the number of homes sold through the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards edged lower in February. In recent months, national sales activity has slowed while new listings continue to rise, resulting in a more balanced national resale housing market.

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Demand and supply coming into balance in resale market

Ottawa – February 1, 2010 – On behalf of Human Resources and Skills Development Minister Diane Finley, Rob Moore, Minister of State for Small Business and Tourism, joined today with Canadian Real Estate Association (CREA) CEO Pierre Beauchamp to announce that self-employed REALTORS® can now participate in the Employment Insurance (EI) program. “From coast-to-coast-coast, a large majority of REALTORS® are self-employed,” says Mr. Beauchamp.

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REALTORS® welcome EI benefits for Self-Employed

OTTAWA – Tax policy discourages the sale of income property and impedes a chain reaction of economic stimulus and job creation – elements that could greatly contribute to a commercial real estate market recovery and community redevelopment. A new Altus Group economic study prepared for The Canadian Real Estate Association (CREA) found that income property sales generate sizeable economic activity in a number of industries, and support job creation

Link:
New Economic Study Underscores Need to Remove Tax Barriers to Property Reinvestment

DRAR in co-operation with the Canadian Real Estate Association (CREA) launch Fall Advertising radio commercials. Durham REALTORS®, We Work Where You Live . To contact a local Durham REALTOR® or find an Open House in the Durham Region and surrounding area visit: http://www.DurhamRealEstate.org .

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Contact a Durham REALTOR® or Search Open Houses at www.DurhamRealEstate.org