Good National News
I’m often writing/bragging about how well the real estate market is doing locally, and with good reason: it’s on fire like we haven’t seen in eight years. But it’s encouraging to hear some good news coming in from around the country, especially major markets like Vancouver and Toronto.
The Conference Board of Canada predicted today that the condo market is unlikely to plummet, even in Toronto where there has recently been concern about an abundance of new multi-family dwellings being built. While things may cool a bit, especially if interest rates rise, the Conference Board concluded that banks were doing a good job of keeping construction from getting out of control by virtue of construction loans being contingent on pre-sale thresholds, and growing populations in metropolitan areas will continue to be on the lookout for condos.
And the Canadian Real Estate Association is talking about Vancouver’s market growing nearly ten percent year-over-year for July, while Toronto’s up almost thirteen percent.
So, while we’re leading the charge thanks to generous incomes and a growing population, ours isn’t the only city with busy Realtors. I love good news.
Tags: alberta real estate, calgary real estate, calgary real estate market, canadian real estate, Canadian Real Estate Association, condo market, conference board of canada, CREA, global national news, growing population, real estate market, toronto real estate market, vancouver real estate market
