The Canadian Real Estate Association (CREA) is forecasting a modest rebound in both national sales and the national average price this year. How might this affect your 2019 moving plans?
CREA expects national sales to edge up about 2 percent in 2019, but remain below annual levels recorded in 2014 through 2017. The national average price is forecast to rebound by 2.7 percent to $508,400, reflecting modest average price growth in several provinces.”
Based on 2018 activity, CREA notes that while economic and demographic fundamentals remain supportive for housing demand in many parts of the country, policy headwinds have impacted home buyer sentiment and access to mortgage financing in many housing markets. Further interest rate increases, combined with the recent federal mortgage stress test, are now expected to keep home sales activity in check.
This trend means that it’s more important than ever for sellers to highlight all the virtues of their houses. For example, when preparing to put your house on the market, be sure to educate your listing agent on all its unique qualities. In addition to an overview of your house, your listing should also include information on neighbourhood schools, restaurants, proximity to transit and shopping, and more. After all, when you buy a home, you don’t just buy the bricks and mortar, you buy a community — neighbours, parks, stores and schools.
Please The Mash Team call today to find out what else to include in your listing, and how best to prepare your house for an expedient sale at the best price.
Click Here. CREA Update Resale Housing Market Forecast