Housing Sales Increase for the Second Month in a Row!
For the second month in a row, the Canadian housing market has recorded an increasing number of sales in most areas around the country. “Conditions in the resale housing market have improved markedly this Spring,” according to TREB President Maureen O’Neill. “Home purchases have increased as households have taken advantage of low interest rates and slightly lower home prices.”While April sales remained lower than last year, the housing market gained momentum on a month-over-month basis.Paul Penner, President of the Fraser Valley real estate board, says current conditions have created one of the best buying opportunities in years. “REALTORS® have successfully communicated to their sellers to be more realistic with their prices, which is why we’ve seen a 29% increase in sales from March to April.” Penner also attributes the increase to all-time historically low interest rates and still relatively high inventory for Fraser Valley, although it is dropping rapidly.
For the second month in a row, the Canadian housing market has recorded an increasing number of sales in most areas around the country. “Conditions in the resale housing market have improved markedly this Spring,” according to TREB President Maureen O’Neill. “Home purchases have increased as households have taken advantage of low interest rates and slightly lower home prices.”While April sales remained lower than last year, the housing market gained momentum on a month-over-month basis.Paul Penner, President of the Fraser Valley real estate board, says current conditions have created one of the best buying opportunities in years. “REALTORS® have successfully communicated to their sellers to be more realistic with their prices, which is why we’ve seen a 29% increase in sales from March to April.” Penner also attributes the increase to all-time historically low interest rates and still relatively high inventory for Fraser Valley, although it is dropping rapidly.
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