The Rocca Sisters Blog

The Royal LePage House Price Survey was just released on April 4th, bringing great news about the current state of the Canadian housing market. The first quarter of 2013 proved to be a very unique and supportive residential real estate environment due to the unprecedented combination of flat housing prices, low interest rates and a strengthening Canadian economy.

Royal LePage President, Phil Soper, stated that ‘The combination of very low mortgage rates and flat home prices, against a background of general economic improvements across the nation, is not something we have seen before. While some have spoken loudly about impending market volatility and dramatic downward pressure on home prices, we are simply not seeing evidence of this. The current market environment is very supportive for housing. Those waiting for big declines in home prices will likely be disappointed. ‘*

Soper mentions that there is some degree of uncertainty, however, of how long this environment will continue before one of the three factors changes position. With interest rates expected to remain low and the Canadian Economy gaining economic strength, it is the stability of house prices that is the toughest to predict. And while many have been predicting a drop in house prices, they continue to be on the rise. The latest March 2013 MLS Report released by the Oakville, Milton and District Real Estate Board report a year-to-date average residential sales price increase of 10.23% compared to the first quarter of last year.

If you have been thinking of buying or selling, now is the time to take advantage of this unique market. Call us today to schedule a free, no obligation home evaluation. Experience Cathy and Tanya’s hands-on, personalized customer service that has ranked us the #2 Team in Canada for Royal Lepage in 2012. We proudly provide a service that is not just the best, but remarkable.

*Royal LePage Canada, April 4, 2013

Source: Royal LePage Website