Will house prices go down?
Did you know that while CREA (Canadian Real Estate Association) is predicting that home prices next year will be down approximately 2.2%, they will have increased by 1.5% from over 2009. To put it into perspective, your $350,000 home may decrease in price by about $2,500. This is hardly anything to get into panic about, and please remember, that it's the local stats that matter. Our housing market is unique and cannot be compared to national averages, just take a look at some numbers from the Ottawa Real Estate Board below: Residential Class Average Sale Price YTD 2010 = $338,418 Condominium Class Average Sale Price YTD 2010 = $251,997 So please remember to check what's happening in your local market before you make any real estate decisions. ready2move.ca <p><a href="http://www.freedigitalphotos.net/images/view_photog.php?photogid=659">Image: Salvatore Vuono / FreeDigitalPhotos.net</a></p> Did you know … that while CREA is predicting that home prices next year will be down approximately 2.2%, they will have increased by 1.5% from over 2009. To put it into perspective, your $350,000 home may decrease in price by about $2,500. This is hardly anything to get into panic about, and please remember, that it's the local stats that matter. Our housing market is unique and cannot be compared to national averages, just take a look at the stats above…
Posted by Szabolcs Pall
on June 3, 2010
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