Tuesday, December 18, 2007

Market Outlook 2008

In a December 17th media release Royal LePage Canada has just released their annual market forecast for 2008. Generally speaking, the strong real estate market of 2007 is expected to carry over into 2008 albeit at a more moderate pace. The current overall strength of the Canadian economy is built on strong economic fundamentals including low unemployment, a high degree of consumer confidence thanks in part to the strength of the Canadian dollar, modest inflation and reasonably low lending rates. These economic conditions will continue to drive the demand for residential real estate throughout the coming year although a 4.0% reduction in unit sales is forecasted for the year with sales expected to fall slightly below 501,000 units. House prices are forecasted to rise by a more modest rate of 3.5% nationally which is expected to reduce the bidding wars that have characterized many urban markets across Canada is recent years.
It is predicted that 2008 will see an abundance of first-time buyers enter the housing market stemming from stable mortgage rates and longer amortization periods thus resultng in highly affordable monthly mortgage payments. For the full details of the Royal LePage Canada report click on the following link:

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Royal LePAGE Locations North (Brokerage)

330 First Street, Collingwood, ON L9Y 1B4


Direct: 705-443-1037

Office: 705-445-5520 ext 230


My Profile

Rick relocated to Collingwood from Toronto in 1985 through a transfer with Goodyear Canada. In 1987 Rick was recruited by a major client of Goodyear’s, managing their Canadian business based in Barrie before moving to Chicago in 1992 as Vice President of Sales & Marketing. Upon returning to Canada in 1996, Rick ran an industrial products manufacturing company in Stratford, Ontario. In 1998 Rick returned to Collingwood with his two children. Rick is a licensed real estate Broker with Royal LePAGE Locations North in Collingwood and holds his MVA designation (Market Value Appraiser-Residential). He is an active volunteer in the community serving several years on the Board of Directors with the Collingwood Chamber of Commerce as Treasurer, 6 years on the Board of Directors for the Southern Georgian Bay Association of REALTORS® of which he is the Past President (2008) and currently serves on a committee with the Ontario Real Estate Association. Rick is a diverse executive manager with extensive experience in strategic planning, manufacturing, finance, human resources and quality assurance management.