REAL ESTATE BULLETIN
VOLUME 2, ISSUE 6 FALL & WINTER 1996
RE/MAX METRO CITY ANDRÉ FOURNIER TEL. 769-7129
REAL ESTATE NEWS


Market Trends
The number of Canadians likely to purchase a home over the next two years has increase by five per cent according to Royal Bank's annual home ownership survey. Families who want to "trade up" are expected to be the prime movers in the housing market. A survey asked over 1,000 Canadian for their opinions on buying intentions and other related housing issues. When asked what they considered as the most important factor when looking for a home, respondents picked community safety has their main concern. Thus said, share the load and help with such associations as Community policing, bloc parents, and neighbourhood watch every little bit helps. And who knows when the time comes for selling your home you can share this security with prospective buyers.
Realistic Pricing continues
Because of the continued low interest rates, Re/Max offices report a steady supply of inventory in all price ranges and stabilised prices in most communities. Affordably priced homes continue to attract the greatest demands. In the Ottawa-

Carleton area; the market is more active with sales and listings both ahead of the same period last year. We are seeing more first time buyers and move-up buyers. Most prices have slightly declined but they should stabilise this fall. The average price for a home is approximately $141,000 for a 3 bedroom, detached. The most popular model is still the 2 storey. The most active areas remain Ottawa and Nepean. The average time required to sell a property is between 90 to 120 days. Again the major factor is the consumer

confidence in lower interest rates. The outlook this fall, will be an active buyers' market . The Board cautions that average price information can be useful in establishing trends over time but does not indicate the actual value of a specific property. "Consumers who haven't investigated the rent versus own option could be missing an excellent opportunity," said Joe Oneid, President of the Board. "Housing prices are stabilising and interest rates are exceptionally low." Now is as good a time as ever to purchase a home. Over the years an investment in a property will give you better returns on investment than the traditional government bonds or treasury bills. To qualify to purchase a house you need as little as 5% down for first time buyer through the Canada Mortgage and Housing Corporation (CMHC).

Third-Quarter Resale Activity Inches Up By 2%

Sales Up in All Categories

Low mortgage rates, rebounding job growth and improved consumer confidence lifted overall activity by 2 percent in the third quarter compared to year-ago levels.

Sales rose in all categories, led by single detached sales priced from $125,000 to $149,999. Sales-to-active listings ratios provide a snapshot of market conditions by


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