Thursday, February 25, 2010

Lack of Inventory will drive Toronto Markets

The Lack of inventory will be the greatest challenge facing housing markets across the country this Spring, according to a report released today by RE/MAX.

The RE/MAX Market Trends Report 2010, which examined real estate trends and developments in 16 markets across the country, found that unusually strong activity during one of the traditionally quietest months of the year has led to a sharp decline in active listings in 81 per cent of markets surveyed.

“There have never been so many motivating factors in play at once,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “We’re in for a heated Spring market that will, in all probability, spill over into the summer months, as the window of opportunity draws to a close. The supply of homes listed for sale has been drastically reduced, housing values are once again on the upswing, and banks and governments are moving in unison toward stricter lending policies.”

Read the entire press release here.
REMAX Market Trends 2010 REL

What is motivating you to hold on to your property? Will the new HST expenses cause you to rethink the benefits of condo ownership? Add your comments and observations.

If you are considering selling, and possibly downsizing this is a market where you will be buying first and then placing your home on the market. Let's get together and discuss your choices.

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