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Tag: Canadian home prices

  • Report: US Home Prices On the Rise

    Home Buying 5The National Association of Realtors recently announced the latest US real estate figures and the numbers are encouraging for anyone considering selling their home.

    Evidently, home price growth accelerated in much of the country during the fourth quarter of 2014.

    This is a fantastic development for anyone hoping to get a good price on their home for sale. Continue reading to learn more.

    What You Should Know About US Home Sales

    Here is an overview of the highlights of the most recent real estate market report:

    • The median price of an existing single-family home increased year-over-year in 86 percent of 175 metropolitan areas.
    • 24 areas had price gains of 10 percent or more.
    • That figure is up from 16 regions during the third quarter.
    • Meanwhile, prices declined in 24 areas.
    • Experts credit the home price acceleration at least in part to low mortgage rates and improving employment conditions.
    • Still, home price gains are reducing affordability in areas across the country, which had 25 percent growth on average over the last three years.
    • At the end of the fourth quarter, there were 1.85 million previously-owned homes listed for sale, down from 2.01 million a year earlier.
    • The number of markets that saw year-over-year price gains in the fourth quarter has increased.
    • The median price for an existing single-family home in the three months through December was $208,700, which is up 6 percent from the fourth quarter of 2013.

    A Different Effect Seen in Canada

    As US home prices have increased, a lot of Canadian cities are seeing declines in home prices.

    According to the market data:

    • Home prices have started trending downward in several major Canadian cities, including Montreal, Winnipeg, Calgary and Hamilton, Ont.
    • Still, at least two major cities showed gains. On an annual basis, home prices were up 7.4 percent in Toronto and up 5.1 percent in Vancouver.

    When It Comes to Real Estate, Knowledge is Power

    We take pride in being able to provide you with the most up-to-date market information so that you can make informed decisions as home buyers and sellers.

    Check back soon for even more updates on the state of the national housing market and how that may impact you as a buyer or seller.

  • US Homes Selling Quicker and Canadian Home Sales Prices Increasing!

    US and Canada Home SalesAs real estate experts, we’re always looking for market indicators to suggest whether the market is favoring sellers or buyers.

    We look at a variety of factors, including average list price,  median sales price and price per square footage.

    Another indicator we look at is the days that a home spent on the market before it ultimately sold. And if the latest data is any indication, this metric is certainly starting to favor home sellers!

    Why Home Sellers in the US Should Be Optimistic

    According to the most recent real estate data, properties listed in September 2013 spent an average of 86 days on real estate websites, compared with 116 days last year!

    This suggests that homes are selling nearly a month quicker than they did this time last year.

    Here’s what else the most recent real estate data reveals:

    • Properties listed in all 30 of the largest metro areas in the country sold quicker in September when compared to last year.
    • Those homes in the San Francisco Bay area were listed for the fewest number of days at 48, followed by Sacramento with 59 days and Dallas with 60 days.
    • Comparatively, in 2010, homes listed were on the market an average of 119 days.

    Experts say that a declining inventory of homes for sale has attracted more eager buyers to the market, resulting in fewer days on the market for homes for sale.

    Historically low mortgage rates, an improving economic climate and depressed home price values are further encouraging this activity.

    Canadian Real Estate Market Faring Well Too!

    Although data on average days on the market was not immediately available, other real estate indicators suggest that Canada’s real estate market is faring just as well!

    Here is some recent encouraging data released by the Canadian Real Estate Association:

    • Although the number of newly listed homes decreased by 0.8 percent from September to October, the Canadian housing market remains in balanced territory.
    • The national average sale price increased 8.5 percent year-over-year in October.
    • The MLS® Home Price Index (HPI) increased 3.5 percent year-over-year in October.
    • Between September and October, national home sales declined by 3.2 percent.
    • Meanwhile, actual (not seasonally adjusted) activity was 8.3 percent higher from October 2012 to October 2013.

    The Ultimate Source for Real Estate News

    Check back here soon for more updates on how the national real estate markets in the United States and Canada are faring!

    And for expert help on your own home-buying or home-selling goals, please contact us today!

  • 3 Encouraging Signs on the US and Canadian Real Estate Markets

    US, Canada Homes for SaleHome prices in both the United States and Canada have steadily been increasing over the last several months, according to recent housing market data.

    Evidently, CoreLogic Home Price Index recently reported that U.S. home prices have increased in nearly all major cities, and were up 12.4 percent year-over-year in August.

    Meanwhile, in Canada, home prices are showing their own gains in terms of home prices!

    This is encouraging news for anyone hoping to sell their home soon.

    U.S., Canada Home Prices Are On the Rise!

    Here are three encouraging signs for both the US housing market and Canadian housing market:

    • Home prices increased month-over-month throughout the summer
    • The proportion of distressed homes on local markets has been declining
    • Home values are seeing year-over-year gains

    More specifically, here’s a look at recent activity on the U.S. housing market:

    • Home prices increased 1.8 percent between June and July.
    • August saw a 0.9 percent increase in home prices
    • Nevada saw the largest increase in home prices, with a 25.9 percent year-over-year home price increase.
    • Nevada was followed by California, Arizona, Utah and Florida respectively in terms of home price appreciation.
    • For metropolitan areas, San Bernandino and Los Angeles in California saw more than a 20 percent year-over-year increase in August. That makes them some of the highest jumpers in price appreciation.
    • Out of the 100 largest cities, Akron, Ohio, was the only one to see prices decrease.
    • New Mexico had the smallest appreciation, with just a 1.54 percent increase, followed by Vermont, Delaware, West Virginia and Kentucky. Those states had between a 2 and 3 percent increase.
    • All of the above statistics factored in distressed sales. But if you take those out, home prices increased by 11.2 percent year-over-year in August 2013
    • Still, home prices remain 17.1 percent below their peak in April 2006. 
    • Analysts remain optimistic about the future, predicting a 12.7 percent price hike for September.

    And here’s a look at what Canadians are seeing in terms of home prices:

    • Canadian home prices increased by 0.1 percent between July and August
    • Home prices were also 1.8 percent higher than a year earlier

    Your National Real Estate Experts

    The summer home-buying season ended on a positive note in most markets in Canada and the United States, which is sure to please home sellers everywhere!

    And given that analysts are expecting this upward trend to continue, home owners can feel optimistic when they ultimately decide to list their properties!

    Check back here soon for updates on housing market trends that may affect you!