The Canadian Mortgage and Housing Corporation (CMHC) is Canada’s national housing agency and provide excellent housing market information. Each quarter a report is made available that provides an overview of Victoria’s housing market, and the most recent report was made available today!
I wanted to provide you with some quick highlight of the report, and one of the available charts that is available online.
Victoria Highlights:
- the resale market is expected to remain in balanced territory(neither a seller’s nor buyer’s market)
- average resale prices will stabilize in 2011 and 2012
- MLS prices across all property types are projected to decrease by 2% in 2011, and then increase again in 2012 by about 1%
- the average price of single detached homes is projected to rise by 2.1% in 2011 compared to 2010
- the volume of MLS sales are projected to increase by 8.6% in 2011 compared to 2010
- economic and demographic factors will support possible housing demand in the region
Much more information is available online at CMHC or by contacting Patricia or myself. We would be happy to discuss future trends and today’s real estate market with you in more detail.
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