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RE/MAX Housing Market Outlook 2010: Greater Montreal

December 11, 2009 By 12 Comments

You might remember last week’s RE/MAX 2010 Market Forecast, where we briefly quoted some of the report’s outlook for the Canadian Market. Today we’ve outlined the Greater Montreal market forecast, taken from the same report. So far the news are excellent and there is a lot to expect from the new year. The following text is one big quote. I’ve highlighted the most important areas for a quick & easy reading. To view the complete report (PDF file) click here.

Greater Montreal Market 2010- According to RE/MAX:

Despite a slower than usual start to the year, the Greater Montréal’s residential real estate market continues to experience strong upward momentum.

Spurred by rock-bottom interest rates and growing consumer confidence levels, home sales are expected to top 43,000 by year end, a 5% increase over the 40,916 units sold in 2008. Average price is forecast to escalate further, recording a 3% increase to $266,000 in 2009, setting a new record for the city. There is more to read >>

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Housing performance expected to accelerate in 2010

December 4, 2009 By Leave a Comment

going-up

The year isn’t over yet, but you can definitely expect new Market forecast coming this month, telling us how the year did so far and what to expect for 2010. This is the first we’re publishing here. The report was done by RE/MAX. More reports coming soon.

As economic stability returns to Canadian markets, housing performance expected to accelerate in 2010.
The RE/MAX Housing Market Outlook for 2010 examined residential real estate trends in 23 markets. The report found that sales are forecast to recover in almost all major centres by year-end 2009

“Canadians continue to demonstrate their commitment to homeownership – regardless of the economic climate,” says Sylvain Dansereau, Executive Vice President, RE/MAX Quebec.
“No where in Canada is that more evident than in Quebec. The province, with one of highest percentage of renters in the country, is well-poised for an escalation in homeownership levels as renters enter the market en masse to take advantage of ideal market conditions. Prices remain well under the national average, making ownership more attainable and leaving more room for appreciation that’s been long overdue.”

More on the Market Outlook Nationwide:

  • Approximately 465,000 homes are expected to change hands nationally in 2009, a 7% increase over one year ago.
  • Canadian housing values are forecast to close the year at $318,000, up 5% from $303,594 in 2008.
  • By year-end 2010, the number of homes sold is predicted to climb another 2% to 475,000 units.
  • The average price of a home is also expected to experience an uptick, rising 2% to $325,000 – the highest level in Canadian history.
Filed Under: Canadian Real Estate Tagged With: , , , ,
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