The Rocca Sisters Blog

With MLS sales rising in November for the fourth consecutive month, sales levels are in line with the average of the past decade. This suggests a healthy, sustainable trend. According to Scotiabank Group, housing demand in 2011 will be ‘stoked by continued ultra-low borrowing costs, with the Bank of Canada likely on the sidelines for some time’. However, they also believe that this demand should ‘be tempered somewhat by more moderate employment and income growth as government restraint efforts take place’.

Due to increases in demand, the overall market conditons have shifted from favouring buyers over the summer months to create a market that is generally balanced and/or favoring sellers. This has contributed to recent price gains.

*Scotiabank Group. Global Economic Research.’Housing News Flash’.December 15, 2010.