Housing Activity Stronger In 2010

News Release from the Canada Mortgage and Housing Corporation:

Housing starts rebounded in the second half of 2009 and will strengthen in 2010, according to Canada Mortgage and Housing Corporation’s first quarter Housing Market Outlook, Canada Edition*.

Following a total of 149,081 units in 2009, housing starts are expected to be in the range of 152,000 to 189,300 units in 2010, with a point forecast of 171,250 units. In 2011, housing starts will be in the range of 156,400 to 205,600 units, with a point forecast of 175,150 units.

“Canadian housing markets will benefit from improving economic conditions and low mortgage rates,” said Bob Dugan, Chief Economist for CMHC. “As well, measures recently announced by the Government of Canada to support the long-term stability of Canada’s housing market will help moderate housing activity as some potential buyers will have to save a larger down payment or consider a less expensive home.”

Mr. Dugan also noted that the existing home market has shifted from a buyers’ market, at the beginning of 2009, to a sellers’ market. The relative lack of new listings for existing homes has pushed some of the demand into the new home market, which helps explain the forecast for higher housing starts activity in 2010.

The strong pace of MLS®1 sales seen in the second to fourth quarters of 2009 reflects, in part, activity that was delayed in the previous two quarters. The pace is not likely to be sustained as pent-up demand is exhausted and financing costs increase with anticipated higher interest rates later in 2010. As a result, existing home sales will be in the range of 455,350 to 509,900 units in 2010, with a point forecast of 486,700 units, and then move slightly lower in 2011 to be in the range of 426,300 to 494,600 units, with a point forecast of 469,950 units.

With an improved balance between demand and supply, the average MLS® price is expected to remain close to the average in the last quarter of 2009, for most of 2010, and then rise modestly in 2011.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

* The forecasts included in the Housing Market Outlook are based on information available as of February 16, 2010. Where applicable, forecast ranges are also presented in order to reflect economic uncertainty.

Information on this release:

Charles Sauriol
CMHC Media Relations
613-748-2799
csauriol@cmhc-schl.gc.ca

///…CP

February Numbers — Market Stability Persists

Every month I review, modify/ adapt, and post the MLS® data for Edmonton and area real estate activity. The information is adapted from the REALTORS® Association of Edmonton Monthly MLS® Report and Press Release. You can view the original report in its entirety by visiting theREALTORS® Association of Edmonton website. Click HERE for a graphical representation of Edmonton’s average price over the course of the calendar year. Click HERE for a graphical representation of Edmonton’s actual month-to-month price over the course of the calendar year.
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Prices for residential property sold through the Edmonton Multiple Listing Service® changed marginally through February, despite a dramatic increase in sales activity compared to last month or the same month last year. 

The average*** single family dwelling price was up 1.4% from January to $369,573 — a 5.6% increase from a year ago. Condominium prices dipped 3.8% to $231,530 and duplex and rowhouse prices were up 3.3% to $315,390. The average days-on-market was down 10 to just 47 days.

“While prices remained stable through February the increase in sales activity indicates that there is a demand for housing in the Edmonton area,” said Larry Westergard, president of the REALTORS® Association of Edmonton. “Listings also increased in February leading to a bigger month end inventory of homes and relaxing concerns that inventory may be too low to handle the spring buying season.”

In February, housing sales were up 33.9% compared to January with 1,184 residential sales. Total residential sales were also up 7.6% from last February. There were 2,505 residential listings added during the month resulting in a 47% sales-to-listing ratio and a month-end inventory of 5,449 homes. Total sales through the Edmonton MLS® System (including residential, commercial and rural properties) in February were valued at $416 million (up 10.5% from last year).

“The upcoming changes to mortgage qualification rules and impending mortgage rate increases may prompt some buyers to enter the market earlier and cause some additional slowdown in the third quarter,” said Westergard. “As usual, REALTORS® will be challenged to be a voice of reason in the real estate transaction and work to meet the needs of their eager clients without putting their financial health at risk.”

A new and improved MLS® System statistics package is available to consumers at ereb.com with year-to-year comparisons and expanded reporting of the condominium market and new sub-market reports. The public will also find median prices in addition to the typical average price statistics.

***Average prices indicate market trends only. They do not reflect actual prices, which vary from house to house and area to area. For information on a specific area, contact me directly***
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February 2010 Activity	Record for the Month *	Percent Change from February 2009	Change From January
Total MLS® sales this month	1,312	10.3%	UP
Value of total MLS® sales – month	$417 million	10.5%	UP
Value of total MLS® sales – year	$750 million	14.1%	UP
Residential¹ sales this month	1,184	7.60%	UP
Residential average price	$316,765	2.00%	UP
SFD² average selling price – month	$369,573	2.00%	UP
SFD² median³ selling price	$355,000	5.90%	DOWN
Condo average selling price	$231,530	0.80%	DOWN

1. Residential includes SFD, condos and duplex/row houses.
2. Single Family Dwelling
3. The middle figure in a list of all sales prices

 ///…CP

Come Home To: 1412 Cambridge Lofts

MLS# E3212707 — Click the MLS Number at left to view images. Note you will be re-directed to the REALTOR.ca website.

Located in Cambridge Lofts, this prime one-bedroom loft style condominium is perfectly located in the heart of downtown. With private LRT and pedway system access from the building, this unit is ideal for students, first-time buyers, or investors.

The unit features a granite counter top, laminate and tile flooring, 10′ exposed ceilings and insuite laundry.

This 14th floor unit is south facing with views of the river valley and the Hotel Mac. The units on the south side of this building (facing Jasper Avenue) are the most desirable because of the view they offer. Cambridge Lofts is the only residential building in downtown Edmonton that has direct secured access to the LRT (Central Station) and the downtown indoor pedway system.

Come home!

 

///…CP

Clear Out The Clutter

Here’s another post taken from my ‘News You Can Use’ Preferred Client publication. ____________________________________________________________________________________

Most of us tend to accumulate ’stuff’ in our storage sheds, basements, garages, and closets; and it doesn’t take long for these spaces to become cluttered. Sooner or later even the most dedicated packrat must make room for new belongings; so stop procrastinating and schedule some time to tackle your favourite dumping ground. You’ll feel better for it and may even be able to help out others by donating unwanted and/ or unnecessary items.

Free Up Space De-cluttering is the fastest way to free up space without adding cost or upkeep. In fact, less stuff means less cleaning. If you haven’t used items within the past year, then it’s likely time to toss them. Exceptions include family heirlooms, collections, and other keepsakes.

Possession Perspective Save time and money by keeping a healthy perspective on your possessions. Many people are surprised by the sense of newfound freedom achieved by keeping a healthy attitude about belongings. Allow your possessions to complement – not compete – with your life. Not only will you spend less by breaking the shopping habit, but you’ll make it easier to organize and enjoy the things you keep without the headache and hassle associated with cluttered closets, garages, and basements.

Guilt-Free Living Sometimes it’s difficult to let go, but it’s healthier to look to the future than live in the past. Learn to let go without the guilt by donating unneeded items to charity. Taking this step will provide you with a fresh start and you’ll have the satisfaction of knowing the items will be put to good use.

Give it some thought…if you’ve been sweeping snow and scraping ice off your car windows all winter because you can’t park in your garage, then it’s probably time to de-clutter!

///…CP

Come Home To: 840 Proctor Wynd

MLS# E3211763 — Click the MLS Number at left to view images. Note you will be re-directed to the REALTOR.ca website.
Alternatively, visit the home page for this property.

View images on flickr

A perfect combination of size, location, and layout!
Backing onto Picard Park and tucked along a quiet side street in the Potter Greens neighbourhood of Lewis Estates, this large family home has it all. This bright, cheery, and spacious 2,140 square foot home is full of natural light and the sunshine pours in from all sides thanks to the east-west exposure and terrific placement of windows.

Upper Level
Upstairs hosts the massive 16′ x 18′ master suite with four-piece ensuite and walk-in closet with laundry chute. The four-piece ensuite includes a deep corner jetted tub, separate shower and sink, separate make-up counter, and the stand-alone toilet is located behind a pocket door for privacy. The main four-piece bath and two large additional bedrooms are also located upstairs; and one of the additional bedrooms even has a walk-in closet. Completing the upper level is the large 14′ x 16′ bonus room with corner fireplace and the five windows allow the sunshine to pour into the space. Both the ensuite bath and the main bath feature maple cabinets with raised (35″) counter top heights.

Main Level
The main floor offers an open-concept kitchen that features a centre island with breakfast bar, tons of maple cabinets with pot drawers, and antique birch hardwood flooring. The kitchen overlooks the 10′ x 10′ dining nook and the great room with gas fireplace. The kitchen provides one point of access to an incredible walk-through pantry with 42′ of shelving, broom closet, and laundry hook-ups. Access the rear deck and BBQ from the dining nook via the patio doors or enjoy the view and privacy through one of the many windows. Also located on the main level is a two-piece powder room with pedestal sink. An 11′ x 10′ office/den veiled behind french doors and overlooking the front veranda rounds out the main floor.

Additional Interior Features
Additional interior features of this home include central air conditioning, roughed-in vacuum system, soft (rounded) corners, decora switches and receptacles, upgraded lighting fixtures throughout, and Hunter Douglas window coverings throughout.

Additional Exterior Features
The 21′ (deep) x 23′ (wide) attached garage is insulated, drywalled, and painted and has a man-door that provides access from the garage to the back yard. The oversized double garage is complemented by the extra-wide exposed aggregate driveway and exposed aggregate walks. There is a seven-zone automated underground sprinkler system to keep your grass, perennials, and annuals looking great throughout the growing season. All of the garden beds are outlined by coloured and stamped poured-concrete edging and are filled with washed rock or bark chips. The rear of the home has a massive zero-maintenance deck that wraps the back of the home and features aluminum and opaque-glass rails and a natural gas line for your BBQ. The yard is fully fenced with no maintenance white vinyl fencing on both sides and an architecturally defined black chain link fence across the back. There are gates on either side of the home as well as a gate in the back fence for access to the park.

Come home!

 

///…CP