Stomp Realty Weighs in on Canadian Real Estate Association Housing Market Predictions
Stomp Realty reacts to the Canadian Real Estate Association’s 2016 pricing forecast.
Toronto , Canada – May 24, 2016 /MarketersMedia/ —
Stomp Realty (www.StompRealty.com), a full service boutique style realty brokerage, is weighing in on the Canadian Real Estate Association’s housing market predictions.
The Canadian Real Estate Association (CREA) released its 2016 outlook for Canada’s housing markets as a whole. They expect sales to grow by 1.0% as opposed to its previous prediction of a 1.1% growth. (Source: The Canadian Press, “Canadian Real Estate Association raises outlook for home sales in 2016,” Maclean’s web site, March 15, 2016; http://www.macleans.ca/economy/business/canadian-real-estate-association-raises-outlook-for-home-sales-in-2016/.)
“Housing markets are naturally unpredictable, but this seems to be a fair prediction of how the overall market will perform,” says Erica Smith, Broker of Record at Stomp Realty Inc. “This is of course a prediction for the entire country and not just Toronto, which tends to outperform the rest of the markets.”
The CREA reflects Smith’s thinking, saying that early signs this year have seen Toronto and Vancouver continue to be ahead of the class when it comes to sales and price. Both cities have set records year-over-year in their respective markets.
“Toronto is just a different beast when it comes to real estate,” Smith continues. “We have such a demand that’s almost impossible to keep up with considering the current supply of homes. It certainly makes it more exciting and challenges us as agents to be able to match our client’s demands.”
The average price for a Canadian home is expected to be approximately $478,000 in 2016, due largely to the impact of Ontario and B.C. Removing these two provinces, the national price average for a Canadian home in February would have been $355,235 as opposed to over $500,000, which is where it stands at right now.
“We make a difference. Single family home prices in Toronto is at the million dollar mark. Living in Toronto is now at a premium and it’s reflected in the prices. That’s something clients need to understand as they enter into the Toronto market.”
As an established real estate brokerage, Stomp Realty Inc. helps first-time and recurring Toronto homeowners buy, sell, or lease homes across the GTA. Brokers at Stomp Realty have an open-minded approach to real estate, which involves making use of digital platforms. For more information, visit www.StompRealty.com.
For more information about us, please visit http://www.stomprealty.com/
Contact Info:
Name: Erica Mary Smith, Broker of Record and Co-Founder of Stomp Realty Inc., Brokerage
Organization: Stomp Realty Inc., Brokerage
Address: 163 Sterling Road, Unit #10 Toronto, ON M6K 2B2
Phone: 416-366-3033
Release ID: 116465
Copyright © 1999-2013 SproutNews.com
