Canada’s housing market has shown great strength in recent months, and it looks like it may have some staying power. Home sales have already bounced back from the pounding they took a year ago, and this has surprised some economists. They attribute the housing market resilience to a fear that mortgage rates could rise soon, which has many consumers jumping in feet first.
Experts cannot say if the market’s momentum is a long-term trend or short-term blip, but the numbers are strong for now. According to “The Globe and Mail,” the Canadian Real Estate Association reports strong months for autumn 2013, with a home sales increase of nearly 20 percent over last year. “The real estate market looks like it has its mojo back,” said one economist, adding that he expects sales to continue to rise in the coming months.
Some economists think that the strong Canadian housing market is about more than the anticipation of higher mortgage rates. In fact, they stress that mortgage rates have dropped in recent weeks and are not likely to move higher any time soon. They also note that new home construction is stronger than anyone expected, although the pace is slowing as the year draws to a close.
With the recent drop in mortgage rates, now is a good time for Canadians to consider home ownership. Vancouver has a huge selection of real estate listings for all areas of the city. From residential homes and condominiums to investment and income properties, Vancouver realtors can help home buyers find just the right home for their needs.
Morrison Real Estate is an example of a Vancouver real estate company that offers a high level of exposure for their clients. Their agents specialize in Vancouver, West Vancouver, North Vancouver, Burnaby and Richmond real estate while other agents handle properties in other regions of the city. With professional backgrounds in business, finance, accounting and real estate, professional realtors have the expertise to help consumers through the buying and selling process.
Canadian real estate agents help consumers with research, financing, marketing, investments, property analysis, negotiation, real estate law and other areas of expertise. Many real estate teams have a global reach, since many of their clients come from the United States, Europe and other countries around the world. Whether someone wants to buy or sell property as a means of building financial freedom, wealth or a self-sustaining legacy, professional realtors can help empower their efforts.