The Canadian Real Estate Association (CREA) was a “little” shy on this year’s home sales estimates.
In May they forecast that 2007 home sales would rise 3.6% from 2006. Now, they expect 523,100 homes will sell this year–an 8.1% increase!
As for prices, CREA predicts a jump of 10.4% nationwide in 2007, and 5.5% in 2008. Price may very well set records in every province this year.
With these kind of numbers homeowners will undoubtedly need more of one thing: buying power. Expect demand for long amortizations to continue exploding.
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Last modified: April 25, 2014
