Financial Post reports: Value of new homes goes up

At last, the housing market starts to look a lot better. This article was published by the Financial Post, some of the interesting parts as follow:

The value of new homes in Canada barely grew in June, with many regions posting annual declines once adjusted for inflation, new figures show. But despite forecasts for more soft readings ahead, economists say Canadians are not expected to experience a major U. S.-style correction because prices are still historically high.

(..) It was the slowest yearly rate of growth since March, 2002, and barely outpaced headline inflation, which rose to 3.1% in June.

Growth has slowed since peaking at the unsustainable pace of 12.1% in August, 2006. However, it still averaged a high 7.8% in 2007.(..)

(..) Growth in Toronto picked up slightly to 3.8% compared with 2.5% a year earlier, while in Montreal, prices rose by 5.6%, up from 3.9% in June, 2007.

If you have been following the Canadian Market trends, you probably realized by now that even with the slight increases of sales (quarterly), we are still facing a very volatile market. Checking back with previous Market News, in April we had a report from the Canadian Housing Corporation giving us the details a low market. Canadian Housing was down by 16.3% - with the exceptions of British Columbia.

For those who are wondering when is the best time to put your home for sale, this is one of those times we all can say: We just don’t know.

But, we keep on watching the trends, and take it from there.