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Collingwood / Blue Mounain Real Estate News

OTTAWA – January 14th, 2011 – National resale housing activity in December 2010 was slightly above average for the month of December, according to statistics released today by The Canadian Real Estate Association (CREA).

Actual (not seasonally adjusted) national sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards was down 14.4 per cent on a yearover-year basis in December 2010, which reflects record level sales for the month of December in 2009. Activity in
December 2010 ran slightly ahead of the ten year average for the month (Exhibit 1).

The national trend for monthly sales remained stable in December, with seasonally adjusted sales activity having edged down by less than a percentage point from the previous month. Led by Calgary, Winnipeg, and Hamilton-Burlington, seasonally adjusted sales activity was up monthto-month in half of local markets. Toronto, Vancouver, and Montreal were among the markets that posted a small month-over-month decline in December.

“Overall sales activity has improved in recent months, but the upturn has been uneven among local markets,” said Georges Pahud, CREA President. “Housing market trends often differ due to a number of local factors, so buyers and sellers should consult their local REALTOR® to understand how trends are shaping up in their market.”

National home sales activity improved steadily over the second half of 2010, with seasonally adjusted sales up 18.3 per cent in December compared to the recent low reached in July. As a result, seasonally adjusted activity in the fourth quarter of 2010 rose 12.1 per cent from third
quarter levels, and was up less than a percentage point compared to second quarter activity.

“The hand off to 2011 for sales activity in the fourth quarter suggests that the continuation of low interest rates will further support the housing market,” said Gregory Klump, CREA’s Chief Economist. “Sales may be starting to plateau in some of Canada’s most active and expensive housing markets. Combined with a pickup in new listings and further interest rate increases, the stage is being set for smaller price gains and a further deceleration in the growth of mortgage debt.”

For graphs and charts please read the full report attached below..

Ed Pakstas (Broker)
c/o Resort Country Realty Inc., Brokerage
Direct Line: 705.888.5050
Web: www.CollingwoodCondos.com

Servicing the Collingwood Blue Mountain Real Estate Market Since 1995
(Not intended to solicit properties already for sale)

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[Posted: 01/21/2011 09:19 AM]

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