April 2010: Price Increases Continue
Though the number of homes on the market has increased, we have still not returned to normal levels. This lack of listings is putting upward pressure on prices.
In addition, there are an increased number of high-priced homes entering the market, which is a side effect of the rapid price increases we saw over the last 6 months. (Approximately a 10% rise from October to March.)
Higher interest rates are predicted for the late summer and fall. Given that buyers will try to lock into low interest rates before the rates increase, expect to see a last-minute rush to buy. If you are in the market to sell, don't wait too long.
Want to know more about the state of the market? Please ask me, I'll be happy to help.
peter@peterbottcher.ca — Office: 905-793-9233 — Cell: 416-629-8548
Home to Home Realty Inc., Brokerage — 23 Epsom Downs Drive, Brampton, ON L6T 1Y7
Ph: 905-793-9233 — Fax: 905-799-6164
Not intended to solicit those already under contract with a brokerage
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