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Released: August 7, 2010 Commentary 2 The Numbers That Drive Real Estate 3 Special Reports 9 Topics for Home Buyers, Sellers, and Owners 11
Commentary ,[object Object],[object Object],[object Object],Source: The Canadian Real Estate Association (CREA)
The Numbers That Drive Real Estate Home Sales 4 Home Price 5 Inventory 7 Mortgage Rates 8
Home Sales In Thousands ,[object Object],Data released on July 15, 2010 Sources: The Conference Board, CREA, Royal Bank of Canada Sales moving back toward historical markers Jun ’09-’10 Jun ’08-’09 20-year average: 31.3
Home Price In Thousands Data released on July 15, 2010 Sources: The Conference Board, CREA, Royal Bank of Canada The national average home price slid a slight 1.2% to $342,661 in June from a month ago, but remains 4.9% above year-ago levels. Now that home prices have fallen back in line with the 30-year historic appreciation rate of 5.5%, economists and industry experts expect prices to increase at a slower rate as the market balances.  Home Price - past 5 years Historical Appreciation Rate Home Price – past 1 year enlarged above
Home Prices by Province and Territory 7 out of 12 provinces and territories experienced an increase in home price No Data NT $418K YT $334K BC $500K AB $361K SK $249K MB $226K ON $342K QC $254K NL $237K NS  $213K NB $167K PE  $137K Prices Increased Prices Decreased Home Price Direction  (Year-Over-Year Change) National Average: $342,662
Inventory  –   Sales-to-New Listings Ratio Number of homes available for sale The number of months of inventory measures the amount of time it would take to sell all the homes on the market at the current pace of sales if no new homes become available. There were 6.9 months of inventory in June, which is close to the level seen in March of 2009 when the market began its ascent from balanced conditions into a sellers market. The market is back in balanced territory which is a good indicator for a sustainable housing market.  Jun ’09-’10 Jun ’08-’09 Buyer’s Market Balanced Market Seller’s Market
Mortgage Rates Average for 25-year amortization, 5-year term ,[object Object],Source: Bank of Canada Jul ’09-’10 Jul ’08-’09 35-year average: 9.94%
Special Reports Bank of Canada Raises Key Interest Rate 10
Bank of Canada Raises Interest Rate ,[object Object],[object Object],Sources: CREA,  The Financial Post
Topics for Home Buyers, Sellers, and Owners First-Time Buyers 12
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],First-Time Buyers  10 things to keep in mind while looking for your first home For more, check out  this article  from  The Globe and Mail.  Interest rates at favorable levels and a wider selection of homes than earlier this year provide an opportunity for first-time buyers to enter the market.
Your Local Market Although it is important to stay informed about what is going on in the national economy and housing market, many different factors impact the real estate market in your own area.  Talk to your KW associate for assistance interpreting the conditions in your local market .   KW associates are equipped with all the knowledge and information to help navigate you through the home-buying or selling process in any market.
About Keller Williams Realty ,[object Object],[object Object],[object Object],www.kw.com
[object Object]

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This Month in Real Estate for Canada - August 2010

  • 1. Released: August 7, 2010 Commentary 2 The Numbers That Drive Real Estate 3 Special Reports 9 Topics for Home Buyers, Sellers, and Owners 11
  • 2.
  • 3. The Numbers That Drive Real Estate Home Sales 4 Home Price 5 Inventory 7 Mortgage Rates 8
  • 4.
  • 5. Home Price In Thousands Data released on July 15, 2010 Sources: The Conference Board, CREA, Royal Bank of Canada The national average home price slid a slight 1.2% to $342,661 in June from a month ago, but remains 4.9% above year-ago levels. Now that home prices have fallen back in line with the 30-year historic appreciation rate of 5.5%, economists and industry experts expect prices to increase at a slower rate as the market balances. Home Price - past 5 years Historical Appreciation Rate Home Price – past 1 year enlarged above
  • 6. Home Prices by Province and Territory 7 out of 12 provinces and territories experienced an increase in home price No Data NT $418K YT $334K BC $500K AB $361K SK $249K MB $226K ON $342K QC $254K NL $237K NS $213K NB $167K PE $137K Prices Increased Prices Decreased Home Price Direction (Year-Over-Year Change) National Average: $342,662
  • 7. Inventory – Sales-to-New Listings Ratio Number of homes available for sale The number of months of inventory measures the amount of time it would take to sell all the homes on the market at the current pace of sales if no new homes become available. There were 6.9 months of inventory in June, which is close to the level seen in March of 2009 when the market began its ascent from balanced conditions into a sellers market. The market is back in balanced territory which is a good indicator for a sustainable housing market. Jun ’09-’10 Jun ’08-’09 Buyer’s Market Balanced Market Seller’s Market
  • 8.
  • 9. Special Reports Bank of Canada Raises Key Interest Rate 10
  • 10.
  • 11. Topics for Home Buyers, Sellers, and Owners First-Time Buyers 12
  • 12.
  • 13. Your Local Market Although it is important to stay informed about what is going on in the national economy and housing market, many different factors impact the real estate market in your own area. Talk to your KW associate for assistance interpreting the conditions in your local market . KW associates are equipped with all the knowledge and information to help navigate you through the home-buying or selling process in any market.
  • 14.
  • 15.