U.S. Housing ReCap -2013 with Margaret Kelly, CEO RE/MAX International Inc.

 

I listened to a webcast today and Margaret Kelly, CEO RE/MAX International.  She had some very possitive comments regarding the U. S. Housing Market.  She was pleased to announce that this is the 18th straight month that the market has improved.  She also reinforced the fact that prices are increasing and that Inventory is low.  It was interesting to note that she feels that more than 33% of the market is still depressed but that it should not have the same effect on prices as a few years ago because of the low inventory.

Recapping the 45 minute Webinar.  She was confident on an improving market because of:

Strong Demand for Housing

Low Inventory

Low Interest Rates

Increasing Prices

 

Looks like the U.S. is finally in recovery and expecting a good year in 2013.

Update from the Canadian Real Estate Association

New post on CREA News

Canadian home sales little changed in December
by pleduc

Ottawa, ON, January 15, 2013 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity was little changed on a month-over-month basis in December 2012, holding it in line with levels reported in August when demand first geared down in the wake of tighter mortgage lending rules.

Highlights:
•National home sales edged 0.5% lower from November to December.
•Actual (not seasonally adjusted) activity down 17.4% from December 2011.
•Number of newly listed homes dropped 1.3% from November to December.
•Canadian housing market remains firmly in balanced territory.
•National average sale price up 1.6% year-over-year in December.
•MLS® HPI up 3.3% in December, the smallest gain since April 2011.

The number of home sales processed through the MLS® Systems of real estate Boards and Associations in Canada edged down 0.5 per cent on a month-over-month basis in December 2012. While sales activity was little changed nationally, it picked up in just over half of all local markets in December.

“National sales activity continues to hold fairly steady at lower levels since mortgage rules were changed earlier in 2012, but there are still some real differences in trends between and within local housing markets,” said CREA President Wayne Moen. “As always, all real estate is local, so buyers and sellers should speak to their REALTOR® to appreciate how the housing market is shaping up where they live or are considering living.”

Actual (not seasonally adjusted) activity came in 17.4 per cent below December 2011 levels. Four of every five local markets posted a year-over-year declines in sales activity in December. Calgary remained a notable exception, with activity there having risen seven per cent year-over-year.

Sales were handicapped by December 2012’s five full weekends, since far fewer transactions take place on weekends. This trading day effect is among factors taken into account by seasonal adjustment.

“Similar to what we saw in September, December sales had fewer business days compared to the same month last year and most other years,” said Gregory Klump, CREA Chief Economist. “It factored into December’s year-over-year decline in sales activity.”

A total of 453,372 homes traded hands over Canadian MLS® Systems in 2012. This was down 1.1 per cent from annual activity in 2011, and 1.4 per cent below the 10-year average (2002 through 2011).

This marks the fifth straight year that annual home sales activity has held to within short reach of 450,000 units. “Successive rounds of tightening mortgage regulations have kept the housing market in check during what has become an extended low interest rate environment,” said Klump.

The number of newly listed homes fell a further 1.3 per cent month-over-month in December. Combined with monthly declines of 1.1 per cent in November and 4.1 per cent in October, new supply reached its lowest level since March 2011.

While Greater Toronto posted the largest decline, new listings were down in half of all local markets in December including Greater Vancouver, the Fraser Valley, and Vancouver Island.

“The decline in new supply may reflect purchase offers below asking price that are made to sellers who are under no pressure to sell. Instead they choose to take their homes off the market once their listing expires,” Klump said. “In the absence of economic stresses like a spike in interest rates or a sharp drop in employment, this dynamic can be expected to keep the housing market in balance.“

With sales and new listings moving lower, the national sales-to-new listings ratio was little changed at 50.8 per cent in December compared to 50.4 per cent in November. Based on a sales-to-new listings ratio of between 40 to 60 per cent, three out of every five local markets were in balanced market territory in December.

The number of months of inventory is another important measure of balance between housing supply and demand. It represents the number of months it would take to sell current inventories at the current rate of sales activity, and it too was little changed in November.

Nationally, there were 6.7 months of inventory at the end of December 2012, unchanged from its reading at the end of November. The number of months of inventory nationally has remained close to 6.6 months since August 2012.

The actual (not seasonally adjusted) national average price for homes sold in December 2012 came in just under $352,800, representing an increase of 1.6 per cent from December 2011. The national average price continues to be influenced by fewer sales in Greater Vancouver and Greater Toronto compared to the same period a year earlier. Excluding these two markets from the national average price calculation yields a year-over-year increase of 3.3 per cent.

The 2012 national average price for homes sold through the MLS® Systems of real estate Boards and Associations in Canada was $363,740, up 0.3 per cent from 2011. Netting Greater Vancouver and Greater Toronto from the annual figure yields a gain of 2.8 per cent.

Unlike average price, the MLS® Home Price Index (MLS® HPI) is not affected by changes in the mix of sales, so it provides the best gauge of Canadian home price trends.

The Aggregate Composite MLS® HPI rose 3.3 per cent on a year-over-year basis in December. This marks the eighth time in as many months that the year-over-year gain shrank and is the slowest rate of increase since April 2011.

Year-over-year price gains decelerated in for two-storey single family homes (+4.0 per cent) and apartment units (+1.2 per cent). By contrast, year-over-year growth accelerated in the townhouse/row segment (+2.0 per cent).

Price growth was unchanged from November’s reading for one-storey single family homes (+4.9 per cent).

The MLS® HPI rose fastest in Regina (+10.5% year-over-year), although the increase was the smallest since March. Price growth also moderated in Greater Toronto (+4.1% year-over-year) and in the Fraser Valley (+0.5% year-over-year).

By contrast, the MLS® HPI saw year-on-year growth accelerate in Calgary (+7.4%) and Greater Montreal (+3.3%). In Greater Vancouver, the MLS® HPI posted a 2.3 per cent year-over-year decline in December.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 106,000 REALTORS® working through more than 100 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

pleduc | January 15, 2013 at 9:00 am | URL: http://wp.me/pkxN9-fI

City of Brampton Tree Lighting Ceremony Tonight


 

The Annual City of Brampton Christmas Tree Lighting ceremony will
take place tonight, November 19, from 6 – 8 pm.

Mayor Susan Fennell will hit the switch, illuminating a 60-foot spruce tree to a dramatic sound and light show to kick off Brampton’s festive season!

The line-up for the evening’s festivities includes special activities for the whole family:
fun and games, food stations, and exciting giveaways. Hydro One Brampton will be
giving out free energy-efficient light bulbs (limit one per person). Children can take the
opportunity to come into City Hall and e-mail a letter to Santa Claus. The Salvation
Army of Brampton will also be bringing the World’s Largest Kettle to the event.
Visitors are encouraged to bring a non-perishable food item and/or a toy to kick off the
food drive and Peel Regional Police’s Toys for Tots campaign.

This festive season Brampton has a wonderful line-up of events including:
Ken Whillans Square
• November 19 through January 15: nightly performances of the tree lighting,
beginning on the hour at 6 pm, and running every half hour until 10:30 pm
• November 26 through January 15: carol singing groups performing every Friday
and Saturday evening, with the exceptions of Christmas Eve, Christmas Day, and
New Year’s Eve. Performances begin at 6:15 pm, 7:15 pm, 8:15 pm
Gage Park
• November 19 through January 15: an open bonfire with marshmallow roasting
every Friday and Saturday night, with the exceptions of Christmas Eve and
Christmas Day
• The skate path is scheduled to open the first week of December, weather
permitting
• Holiday Carriage Rides from 6 – 10 pm: sponsored by the Brampton Downtown
Development Corporation and our downtown businesses. Cost: $15 for a party of
four.
For more information call 905.874.2936

GTA REALTORS® Report Monthly Resale Housing Market Figures


TORONTO, November 3, 2010 — Greater Toronto REALTORS® reported 6,681 sales
through the Multiple Listing Service® (MLS®) in October 2010.
This represented a 21 per cent decrease compared to the 8,476 sales recorded in October
2009. Through the first ten months of the year, sales amounted to 75,582 – up one per cent
compared to the January through October period in 2009.

“The annual change in sales and average selling prices has been quite uniform across the GTA
and by property type as the market has balanced out from record levels of sales in the second
half of 2009 and first few months of 2010,” said Toronto Real Estate Board (TREB) President
Bill Johnston.

“The composition of GTA home sales does differ depending on location. Condominium
apartments accounted for 42 per cent of total sales in the City of Toronto and almost 60 per cent
of sales in TREB’s central districts,” Johnston continued. “In regions surrounding the City of
Toronto, in contrast, low rise home types accounted for almost 90 per cent of transactions.”
The average price for October transactions was $443,729 – up five per cent compared to the
average of $423,559 reported in October 2009. The average selling price through the first nine
months of the year was $430,802.

“The average selling price in the GTA has continued to grow relative to 2009 because home
ownership has remained affordable,” said Jason Mercer, the Toronto Real Estate Board’s
Senior Manager of Market Analysis. “A household earning the average income in the GTA can
comfortably afford the mortgage payments associated with the purchase of an average priced
home.”

“The outlook for mortgage rates and income growth over the next year is favorable. The
average home selling price could increase moderately next year and remain affordable for the
average GTA household,” continued Mercer.

Median Price
In October, the median price was $366,000, from the $357,000 recorded during October of 2009.

If you are considering selling, visit: www.EvaluateMyHome.ca

If you are considering purchasing a home, visit: www.JustListed.to

Halloween Fright Nights in Brampton

October 28 & Saturday 29  6:00 pm – 9:00 pm

Fright Nights 

Join the City of Brampton’s Fright Nights! Haunted House, Magician, Face Painting, Crafts for Kids, Themed Music, Swimming, Skating, Hay Rides and More!

Admission is FREE with a non-perishable food donation with the donated food to be distributed to needy families in the local community.

Cassie Campbell Rec Ctr
905-840-4041

GTA REALTORS® Report Monthly Resale Housing Market Figures

 


TORONTO, October 5, 2010 –Greater Toronto REALTORS® reported 6,310 sales through the Multiple Listing Service® (MLS®) in September 2010.
This represented a 23 per cent decrease compared to the 8,196 sales recorded

during the same period in 2009. Through the first nine months of the year, sales

amounted to 69,069 – up four per cent compared to the first three quarters of

2009.

“The level of sales in the second half of 2010 has been lower, representing a

balancing out period following record levels of sales in the latter half of 2009 and

first few months of 2010. We remain on track for one of the best years in history

for existing home transactions in the GTA,” said Toronto Real Estate Board

President Bill Johnston.

The average price for September transactions was $427,329– up five per cent

compared to the average of $406,877 reported in September 2009. The average

selling price through the first nine months of the year was $429,657.

“Resale homes in the GTA remain affordable,” said Jason Mercer, TREB’s Senior

Manager of Market Analysis.

“It is important to consider the positive impact of declining mortgage rates over

the past two decades. Simply considering home prices relative to incomes does

not allow for an accurate analysis of affordability,” continued Mercer. “The share

of average household income going toward a mortgage payment on the average

priced home in the GTA remains within accepted lending guidelines. This is why

the average home selling price has continued to grow.”

GTA REALTORS® Report Mid-Month Resale Housing Figures


TORONTO, August 17, 2010 ‐ Greater Toronto REALTORS® reported 2,732 sales
through the Multiple Listing Service® (MLS®) during the first two weeks of
August 2010.
This represented a 29 per cent decrease compared to the 3,832 sales
recorded during the same period in 2009. New listings, at 4,770 were down
eight per cent compared to the first two weeks of August 2009.
“Throughout the better part of the last year, the number of monthly sales
was well above the expected long-term trend. Accordingly, it makes sense
that the number of transactions has dipped over the past few months in
comparison to last year’s record results,” said Toronto Real Estate Board
President Bill Johnston.
The average price for August mid-month transactions was $412,934 – up
eight per cent compared to the average of $383,796 recorded during the
first 14 days of August 2009.
“We have seen a sufficient number of buyers relative to sellers over the
summer months to support continued year-over-year price growth in the
GTA,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Just Listed! 434 Hansen Rd N, Brampton 3+2 Bedroom Home


Fantastic Layout, Remodelled To Totally Open Concept Main Floor With Bleached Oak Hardwood & Ceramics Throuout Main Level. Wood Burning Fireplace Attractively Decorated With Popular Stucco. Walk Out To Fully Fenced Yard And Enjoy The Flowerbeds And Greenery. 3 Spacious Bedrooms Upstairs. Finished Basement With Summer Kitchen, Sitting Area, Full 4 Piece Bathroom And 2 Bedrooms. Furnace Replaced In 2008, Windows Replaced In 2008, Roof Re-Shingled In 2007, New Dishwasher In 2009, New Washer & Dryer. New Rental Hot Water Tank. Include 2 Fridges, 2 Stoves (One Currently In Garage)Washer And Dryer.

Contact me for your private viewing:
Ruth Ballantyne
Sales Representative
RE/MAX Realty Services Inc., Brokerage
905-456-1000
www.RuthBallantyne.com

GTA REALTORS® Report Monthly Resale Housing Figures

GTA REALTORS® Report Monthly Resale Housing Figures


TORONTO, August 5, 2010 ‐ Greater Toronto REALTORS® reported 6,564 sales in July – a 34
per cent dip from the record 9,967 sales reported in July 2009. New listings, at 10,825, dropped
to the lowest level for the month of July since 2002.
“The level of July sales remained below the expected long-term trend. The market has become
more balanced following record monthly sales through most of the winter and early spring,” said
Toronto Real Estate Board (TREB) President Bill Johnston.
Total sales through the first seven months of 2010 were up by 12 per cent compared to the
same period in 2009.
Notwithstanding the fact that price trends vary at the neighbourhood level in GTA, the average
price for July transactions was $420,482, representing a six per cent increase over July 2009.
Over the first seven months of 2010, the average selling price was up 12 per cent annually to
$432,253.
“Market conditions promoting annual growth in the average selling price have remained in place.
While July sales were down compared to last year, the number of new listings in the
marketplace also fell. This means there was enough competition between buyers to exert
upward pressure on price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Market More Balanced in June

July 6, 2010 — Greater Toronto REALTORS® reported 8,442 sales through the Multiple Listing Service® (MLS®) in June. This represented a 23 per cent decrease compared to the record 10,955 sales reported in June 2009. Sales for the second quarter of 2010 amounted to 28,810 – up one per cent annually. Year-to-date sales through June were up 23 per cent to 50,455 compared to the first six months of 2009.

“We experienced a record number of existing home sales during the first half of 2010, but these sales were weighted more towards the beginning of the year,” said Toronto Real Estate Board President Bill Johnston. “The pace of home sales has moderated from record levels over the past two months with the prospect of higher mortgage rates.”

The average price for June transactions was $435,034 – up eight per cent compared to the average of $403,972 recorded for June 2009.

“With more homes to choose from in the second quarter, many home buyers have been making less-aggressive offers. This has resulted in less upward pressure on the average selling price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The annual rate of average price growth in the second half of 2010 will be in the single digits.”

For the GTA (“905”) in June 2010 there were 5,014 sales with an average price of $413,712 compared to June 2009 with 6,593 sales and an average price of $379,008.