Canadian Real Estate News May 2011

Can you believe it's almost the end of May already? But what's up with this rainy cool weather? I guess spring was not meant to be this year.

Well, with the strange weather patterns Canadian Real Estate still chugging along. Sales are slightly down comparing with April of 2010 but the average price is up. It is tough to compare last year's sales to the spring of this year. Introduction of HST in July 2010 and changes to the downpayment requirements for investment properties created a buying frenzy that started in February 2010 and did not end till June 2010. So, I think it is not a true comparison. But numbers are up from March 2011.

Ottawa market is healthy. There is a good balance between sellers and buyers. One interesting fact, there is an increased interest from the first-time buyers. With increased inventory of re-sale homes this provides many great buying opportunities for this group. So, if you are one of those people, I could help you to find that first home. A big thank you is going to Ottawa Real Estate Board for providing this information.

By the way, if you still not sure if you've done all of your house spring checks just refer to Canadian Real Estate News May 2011.

Don't forget to contact me at olgadewar@rogers.com or (613) 862-1366 if you have any questions relating to real estate.

Have a fantastic day and remember,

Be Active! Be Involved! Be a Current Woman!