forma condos great gulf.The average price in Canada is up 23% a year? The number of housing transactions across the country has set a new annual record for 2021, the Canadian Real Estate Association said in a new statistical report released on the 15th.Please Visit: forma condos great gulf to Get Your VVIP Registration Today!
The volume of housing transactions across the country rose 8.6% in October from September, the biggest month-on-month increase since July 2020.
The number of newly listed homes increased by 3.2% from September to October, while the ratio of transaction volume to new home listings also rose, to 79.5% from 75.5% in September.
The national average house price in October rose 2.7% from September and 23.4% year-on-year over the previous year: judging from the annual price growth rate of each province, house prices in BC province rose 20% over last year; Ontario prices surged 30%; average house prices in new provinces increased by just over 30%; while in Quebec Province, prices in Greater Montreal rose by more than 20%, Quebec City by 13%, and New and Mann provinces by 10% each. The increase in Afghanistan and sa provinces is less than 10%.
Between January and October this year, 581275 properties were sold in the national MLS system, surpassing the sales record for the whole of 2020. The sales volume of houses for the whole of last year was 552423.
The report also pointed out that although the number of new houses listed in October increased compared with September, it was 20% lower than a year ago.
At the end of last year, buyers were still in a hurry to buy houses under strict new crown regulations. This year, things will be different.
“buyers are frustrated and tired, and they feel squeezed out of the market by rising prices,” said Nasma Ali, a real estate agent.
“A lot of sellers are starting to say that maybe this year is not suitable for us to buy a house, maybe we should take a break and see what happens next year.”
At the same time, fewer homeowners are willing to list their homes at this time.
Last month, the number of newly listed homes was 61128, down nearly 20% from 76046 in the same period last year.
Sherry Cooper, chief economist at Dominion Lending Centres, doesn’t think there will be any improvement in listed housing.
“Canada remains one of the most serious housing shortages in developed countries in the world,” she said.
However, she also pointed out, “after we open the border to accept more immigrants, the demand for housing will break out.” This may cause the seller to pay a higher price than last month in order to buy the house.
Robert Kavcic, a senior economist at BMO, said the rising house prices meant it was time for the government and regulators to regulate the situation.
He believes that the trading volume in October already represents that the housing market has fully strengthened after a slightly slower summer.
“the real estate market is still tight and demand is still high, all due to low lending rates, a strong job market, expectations of rising prices, and some people may want to seize trading activity before lending rates go up,” he said.
Ali expects some buyers’ tiredness to ease early next year, especially if interest rates remain low. But she also believes that housing supply will still be difficult in the coming months.
“there are usually more buyers who want to buy in January and February, who feel tired and people will return to the market in January and February, but there is still no housing supply at that time,” she said.
“therefore, things may not get better in January next year, but I think it will be better in the spring when there are more houses.”