2011 Canadian Real Estate Forecasts and Outlook

In: Real Estate News

22 Dec 2010

Next year is almost here! 2010 was a positive year for Canadian Real Estate sales and for PropertySold.ca. The home sales in Canada were down 5% compared to 2009. Home prices increased by 7% in 2010.

Let look at some predictions for 2011.

BANKS:

TD – Is forecasting a drop in sales of 7.6% and a drop in the average price by .8%.
Royal Bank – Is forecasting an increase in sales of .2% and an increase in average price by 1.4%.

REAL ESTATE COMPANIES:

REMAX – Is forecasting sales to stay and same and prices to increase by 3%.
CREA- Is forecasting sales to drop by 9% in 2011 and we could not find a national house price forecast from CREA.

ECONOMISTS and OTHER PEOPLE:

Garth Turner – Is predicting a 15% drop in house prices in the near future followed by 5% declines in subsequent years.
Central 1 Credit – Is forecasting sales to increase by 5% and price to increase by 3%.

PropertySold.ca

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More Information:

For all of your real estate questions please call PropertySold.ca Inc. today at:
1-855-900-SOLD and speak to a customer service representative. We have licensed real estate professionals on staff ready to take your call right now. List your property for sale by owner today. New! We now accept real estate listings from real estate agents and new home builders & developers. More Information »

  • Hira54

    The Canadian Economy is mostly dependent upon US markets. When US is not having good health, how u can expect Canada can have. Still with some doses of medicine by the Central Bank of Canada, they have been successful to some extent, but it will not last long and real picture will come in the near future.

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Canada Real Estate News

Real estate news in Canada including buy and sell information, local market updates, guides, tips for Canadians in the real estate market.