Canada housing industry’s sales takes an unexpected strong turn
The sales of Canadian homes took an unexpected strong turn in 2013 despite many dire predictions of a slowdown and a probable crash, according to an article in The Leader Post. There was a consistent two per cent increase in 2013 from January onward until prices dropped by one percent in October.
Economists theorized that this drop-off was caused by home owners taking advantage at the last minute of discounted home rates that had been offered by banks during the summer and which would end by fall.
Still, institutions like the Canadian Real Estate Association projected that home sales will pick up with an eight percent increase in 2014.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate