The average price of a Canadian home was $375, 810 according to CREA statistics released yesterday May15th.  That figures represents a 0.9 per cent increase from April 2011.  House price rose in 80% of the local markets across the country so although the Toronto and Vancouver markets continue to lead the way and push the averages up there is a signficant part of the rest of the Canadian real estate market that is growing month on month and year on year. 

The year to date number  for houses that have traded hands is 157, 804 representing a 6.4% increase from the first quarter of 2011.  CREA is always careful to point out that all real estate is local real estate and that national figures are not always reflective of the local market where you live. As I reported in my blog of May9th the Collingwood and surrounding market experienced a fantastic sales month in April maybe it is the "Toronto halo effect"  or maybe people can appreciate the local lifestyle we offer and want to be part of it.  What ever the reasons we can all appreciate that the Canadian real estate market continues to reflect a robust economy and a positive view of the future.

Click on the link below to see the full text of the CREA press release.

http://creanews.ca/2012/05/15/canadian-home-sales-edge-higher-in-april/

The figures are out and they look amazing!  The Georgian Triangle Association of REALTORS® has released the home sales figures for April 2012 and they are very positive.  Residential house sales were the highest they have been since April 2002 which means this past April was the second highest sales figures ever.  All I can is wow! This is shaping up to be the year of the recovery. 

For the seventh straight month house sales have increased by double digits year on year. April 2012 saw 186 units sold that brings the total year to to date to 543 homes that have traded hands. Year to year comparisons show that April 2012 represents at 27% increase over April 2011. Along with the increase in actual number of houses sold comes the fact that the value of residental transactions has increased by 37% to $56.4 million-making it the highest monthly dollar volume on record! 

The Canadian Real Estate Association (CREA) has released the March 2012 statistics showing that home prices increased by 5.1% year on year which is on par with February 2012 and notably the smallest gain since June 2011.

The Toronto market continued on its pace with the an increase of 7.3%.-once again the leading city with the largest  increase year on year. Vancouver had the second largest increase with a reported 5.3%, followed by Fraser Valley with 3.3%, Calgary with 2.6% and Montreal at 2.2%.  Take the two fastest growing housing markets out of the picture and the moderation trend in house prices is clear to see. 

Looking at the types of houses that increased in value the ever popular bungalow, (here in Collingwood) prices rose by 5.4%, two storey single family homes by 6.8%, apartment prices rose by 3% and townhouses by 2.6%. 

The monthly comparisions and the year on year trends help us to understand what is happening as we move into the traditional strong spring real estate market.  For more detail on this story please see the link below and watch out for my spring newsletter that will detail the Collingwood housing trends for 2012. 

http://creanews.ca/2012/04/27/home-prices-up-in-march-but-gains-continue-to-moderate/

The Government's 431 page budget released yesterday annouced long over due changes to the regulation of the CMCH-the Canadian Mortgage and Housing Corporation. As I pointed out earlier this week this organization as amased a huge amount of high risks mortgages over $500 billion and all of us as taxpayers are the ones that could pay the bill if the real estate market experienced a downturn.  

Giving the banking regulator the Office of the Superintendent of Financial Institutions new authority over the CMHC makes very good sense as its commercial activities should be closely monitored. It has become an important financial institution and was not subject to OFSFI rules instead the primary source of oversight was the federal minister of Human Resources.  The Fianance Minister said, "I have been concerned about the CMHC for some time' and he has not been on his own! 

The Globe and Mail gives this story the headline today "Feds tighten reins on CMCH

" and The Financial Post featured an article as well "CMHC a good start".   For further insight please see the two links posted below. 

http://www.theglobeandmail.com/news/politics/flaherty-moves-to-tighten-cmhc-oversight/article2415515/

http://opinion.financialpost.com/2012/04/26/cmhc-a-good-start/

The National Post presents an interesting argument for privatizing the Canadian Mortgage and Housing Corporation (CMHC) to help deal with the housing bubble that is daily feature in Toronto and Vancouver real estate markets .  The case presented is well worth a look. There are number of  factors explored including the non-resident buyer from abroad, the Bank of Canada's tight control on (low) interest rates and the CMHC's guarantees. Allowing the  "private market" to assume the mortgage risks and not the Canadian taxpayer is not just a knee jerk reaction there have many people in the " we need less Government  involvement in the free market" camp calling for a change to the status quo. Have a read of the article through the link below as it does present some interesting facts and conclusions. 

http://fullcomment.nationalpost.com/2012/04/23/jesse-kline-government-is-to-blame-for-canadas-housing-bubble/

The stats for March 2012 were released by CREA (Canadian Real Estate Association) yesterday clearly showing that the spring market is off to a good start as national home sales increased by 2.5% from February to March. The hot markets continue to be Toronto, Calgary and Edmonton-no surprise there as there are news stories everyday about these cities "local" markets. First quarter sales show that there were 108,373 houses sold a 4.4% increase from 2011.  Please check out the CREA link on my side bar for further details.

For a different view on the real estate market check out the Globe and Mail link on my side bar- "What will make the housing boom go bust? Greed".  It makes for interesting reading although I have my doubts that we can directly compare the way the U.S. market went to the Canadian one-however, it is all food for thought-so let me know yours!

Want to start a room buzzing with conversation bring up the topic of real estate-everyone has an opinion.  The low interest rates, the bidding wars in Toronto and Vancouver, how can the younger generation afford to get on the property ladder?  The topics and opinions are out there for discussion. It is fair to say that the Collingwood market feels the effects of the Toronto market.  Whether they are making the life style move to our bustling four season community or they are looking for the weekend destination everyone is looking for the house that feels right. Yes, there are things that can be done to make it look like a dream home  or a home away from home (see my blog from March 20th for getting the best out of the reno dollar) however, when it boils down to emotion, we all want to make sound investments but our heart has to agree.

Today's edition of The Globe and Mail has two articles one from the Real Estate section please click on the side link on this page "In Toronto, Buying Homes at Break Neck Speeds" and one interestingly in the Life section by Judith Timson (please click on the link below) that help to put my thoughts on this into prospective, let me know what you think! 

http://www.theglobeandmail.com/life/relationships/news-and-views/judith-timson/houses-are-never-just-investments/article2378164/

Today's home buyer is indeed a savy one. They have done hours of research before they choose the house(s) they want to view in person.  Now more than ever a house seller needs to "have it all" and the rooms that make the renovation dollars a worthwhile investment are still the kitchen and the bathroom.  Imaginative design, professional installation, quality  fixtures and fittings equal money well spent.  Whether you choose an independent local contractor or one of the many  Collingwood stores that provide design and installation services there are deals to be had and often other opportunities you might not of thought of.

For instance, I subscribe to the Rona online magazine and received details on their "Win A Vanity Contest".  You just have to fill in the online form to have a chance to win.  I have put the link below, click on it to find out more and while you are therehave a look at the rest of their magazine.  This is just one example of the wealth of ideas and information on renovations that are literally at your finger tips, a little time spent on your search engine is time well invested. Remember kitchens and bathrooms are the renos that work and by using a Collingwood  business you are supporting the community that you have chosen to invest in. 

http://www.ronamag.ca/win-vanity-your-bathroom

House sales are on the rise!  According to statistics released today by the Candian Real Estate Association (CREA) resale house sales rose by 1.4% from January to February this year and the national home price rose by 2% on a year on year basis from February 2011.  It is good to see the positive feelings people have been expressing have translated into sales.  With the spring weather arriving early in Colllingwood, can the hot spring house sales market be far behind?

Please click on the link below for further details. 

http://creanews.ca/2012/03/15/canadian-home-sales-edge-higher-in-february/

I have just added five really relevant websites to the Links page on my website under the heading "Helpful Websites for Homeowners".  There are a range of subject areas covered from "Areas of Natural and Scientific Information" to local and near local Conservation Authorities. Please check them out and while you are on the site be sure and look at my Feature Lisitings page to view the fantastic range of properties available. Don't delay the hot spring market is here! 

Good news day as the Bank of Canada announced today, March 8, 2012 that they were holding the benchmark lending rate at 1% (the rate has been held since September 2010).  The bank stated that the Canadian economy was "marginally improved" since its January 2012 report which really is good news with all the economic and political turmoil going on around Canada we remain a stable economy.  

The flip side of this is the ever cautious Bank of Canada Governor, Mark Carney voicing concern about the debt level of the average Canadian increasing and stating that cheap borrowing costs especially mortgages are partly to blame. It still holds true that investing in real estate even if it is your primary residence, is one of the best ways to make your money grow in the long term.  As long as the reward to savers is in the single digit range people will look to the solid investment in "bricks and mortar".   The real estate sector is a vibrant part of the Canadian economy and continues to help sustain it through the network of businessess and individuals that benefit from the "knock-on" effects when property is sold.  Three cheers for the real estate sector! 

Interesting article about the Toronto real estate market in 2012  from the Globe and Mail Friday, February 24th, 2012

http://www.theglobeandmail.com/life/home-and-garden/real-estate/buying-and-selling/toronto-home-buyers-may-be-baffled-but-builders-are-bullish/article2347290/

OTTAWA – November 15, 2011 – According to statistics^[1] released today by The Canadian Real Estate Association (CREA), national resale housing activity picked up a little further in October 2011 following the uptick in September.

Highlights:

• Sales activity rose in October, marking the highest level since January.
• Actual (not seasonally adjusted) national sales activity in October stayed in line with the 10-year average for the month, as it has most months this year.
• Year-to-date sales are also even with the 10-year average.
• The number of newly listed homes remained little changed from levels in the previous three months.
• While the combination of stronger sales and stable new listings resulted in a slightly tighter balance of supply and demand, the national housing market remains firmly rooted in balanced territory.
• The national average price posted a 5.5 per cent year-over-year gain in October, the smallest increase since January.
• see full story at http://creastats.crea.ca/natl/

The elderly timber barns that dot the rolling hills of southern Ontario’s Grey County are being re-styled as vacation homes.                                  

Read this article in Globe and Mail http://www.theglobeandmail.com/life/home-and-garden/architecture/john-bentley-mays/a-rustic-respect-built-in/article2141571/

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