Toronto Loft Conversions

Toronto Loft Conversions

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Modern Toronto Lofts

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Unique Toronto Homes

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Condos in Toronto

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Toronto Real Estate

Toronto Real Estate

For all of your Toronto real estate needs, contact Laurin. I am dedicated to helping you find that perfect and unique new home to call your own.

 

Tag Archives: moderation

Home sales to be flat in 2013, prices to rise marginally: forecast

Tara Perkins – The Globe and Mail

Despite the large drop in home sales that much of Canada experienced in recent months, 454,000 homes will change hands this year, just 1% less than in 2011, real estate agency Re/Max forecasts.

Comment: Wow, must have been a HUGE drop… In fact sales only dropped 0.1% from September to October. Why must things be SO badly skewed? It gives people the wrong idea about what is actually going on.

It expects the value of houses nationally this year to be flat compared to last year.

For 2013 it is also forecasting that 454,000 homes will be sold, and that prices will rise 1%.

Comment: Amazing, the people who deal with real estate every single day think that prices will rise next year. But some right wing economic outfit that no one has ever heard of says prices will fall 25%. Which one do you think is right? Which one has the experience and knowledge to make a correct prediction? Do you hire an accountant to fix your car?

The real estate agency expects that this year’s home sales will be at least as high as last year’s in 65% of the Canadian markets it examined, led by Western cities such as Calgary and Regina.

In contrast, Vancouver will show an annual pullback in sales. And “moderation was more widespread in the east, with half of Ontario and Atlantic Canada markets reporting 2012 sales off the 2011 pace,” Re/Max said.

In terms of prices, it said that 81% of markets will see average price increases this year, with Regina posting the strongest growth at 8%. Hamilton and Burlington, Ont., Greater Toronto, Fredericton and Saskatoon will follow closely behind.

Vancouver is forecast to see house prices fall 6% this year. While Vancouver is currently experiencing a significant pullback in sales, Re/Max forecasts that the city will rebound to show the strongest sales gain in 2013, while markets in Quebec will show the largest decrease.

The strongest price gains in 2013 are forecast for St. John’s, Regina, Kingston and Halifax.

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Contact Laurin Jeffrey for more information – 416-388-1960

Laurin Jeffrey is a Toronto Realtor with Century 21 Regal Realty. He did not
write these articles, he just reproduces them here for people who are
interested in Toronto real estate. He does not work for any builders.

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