MORTGAGE Blog & ARTICLES

+1 888 882 0786

Housing Market Set for Autumn Boom

Posted on 6th Oct 2014 by Mark Stern
House in Autumn

The month of September was an excellent start to the fall (autumn) season for real estate and housing markets. There has been an annual increase for home sales in Toronto (10.8%), Vancouver (17.7%), and Calgary (11.9%). Since September, 2009, according to the real estate board, Victoria has not seen sales increase. The three hottest markets – Toronto, Vancouver and Calgary, are likely going to push the market a bit higher unless, otherwise, there are some large decrease rates in the market sale somewhere. These three hottest places in Canada remain the hot markets even in this season of autumn.

 

The season of fall in these three large cities have an opposite result than other regions that become static. Vancouver, Toronto, and Calgary housing markets boomed despite the cooler weather and still continue to push the market level higher. The three large cities have strong job security with incursion of immigrants and there are low rates of mortgage record.

 

One reason why these three cities are developing and growing faster than the rest part of the Canada is because of the growing population in each city and if the population of this three has been combined, there are possibilities that it will be twice bigger than other region. If you are going to look closely, these three cities have distinct similarities. They both shares a younger population which help the cities to develop housing plan like condominium which is affordable and will fit to the younger population needs and because there are high number of younger population, the market sales of this three cities will boom instantly despite the autumn season.

 

Aside from the growing and younger population in these three cities, they have employment security and the job growth in these cities is higher than the rate at the national level. The housing market sets for autumn boom in these three large cities because of the low rates in interest. Basically, among the three cities, Calgary remains low in price however; this low price won’t last if the income keeps on increasing annually. Another reason why Canada continues to boom in the housing market is because of its high ranks in the world as financially secured buyers are motivated to choose this country because of its wide variety in business investment and management. In addition, Vancouver is considered as preferred destinations of most Asian settlers.

 

The month of September was an excellent start to the autumn season for housing market sale. These three big cities of Canada – Toronto, Vancouver, and Calgary are considered as the hottest markets and their home sales in increase year-over-year. This three cities will make their market sale higher otherwise, there are some reduced in sales in some part of Canada. The season of autumn will not stop these three cities to reach a high housing market sale. They will still boom despite the cool weather and develop more housing plan that will suit the needs of their growing populations.

Share Button

Mortgage Rates
STOP! Before you apply for a mortgage through your bank, make sure you are getting the best rate! Compare the best mortgage rates in Canada right now. It will take only a minute, but you will be surprised just how much you can save! We at Resourceful Capital Financial Corporation source our rates from all financial institutions, not just the one's that deal with us. To make sure you make a sound and prudent financial decision and get the best possible mortgage.
BEST MORTGAGE RATES
Refinance Calculator
Resourceful Capital Financial Corporation's refinancing calculator will help you decide whether to refinance your existing mortgage at a lower interest rate.
REFINANCE CALCULATOR