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At Success Realty, Brokerage

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From CREA:

OTTAWA – April 27th, 2012 – The MLS® Home Price Index (HPI), the leading measure of Canadian home prices, stayed above year-ago levels in March 2012 according to statistics released today by The Canadian Real Estate Association (CREA). Year-over-year gains have been moderating. The increase in March was the smallest since last June.

Highlights:

• The Aggregate Composite MLS® Home Price Index in March 2012 was up 5.1% year-over-year – on par with the gain in February and the smallest increase since June 2011.
• Toronto posted the largest year-over-year increase (7.3%), followed by Vancouver (5.3%), the Fraser Valley (3.3%), Calgary (2.6%), and Montreal (2.2%).
• Year-over-year gains were largest for one-and two-storey single family homes, which rose 5.4% and 6.8% respectively. Apartment prices climbed 3%, and townhouse prices were up 2.6%.

The MLS® Home Price Index rose 5.1 per cent in March 2012 compared to the same month last year. The increase was on par with February’s gain, which was the smallest since last June.

“Overall price trends show that Canada’s housing market continues to moderate,” said Wayne Moen, CREA President. “Price increases have been shrinking since last fall. While that trend paused in March, it may in part reflect an early spring in many parts of the country, resulting in increased competition among buyers. That said, headline numbers mask some important differences in price trends among local housing markets and housing types. Since all real estate is local, buyers and sellers should talk to their local REALTOR® to best understand how home price trends are shaping up where they live.”

The MLS® HPI remained above its year-ago level in all five of the markets tracked, led by Toronto (7.3%).

It also held above year-ago levels in all housing categories tracked, led by two-storey single family homes (6.8%).

The MLS® HPI rose 1.3 per cent from to February to March 2012.

“The index typically experiences these types of month-over-month gains in the spring, which coincides with when the balance of supply to demand is tightest,” said Gregory Klump, CREA’s Chief Economist. “With that in mind, it’s important to look at month-to-month movements in the context of how they compare to the same period in previous years. While the overall monthly price increase was on par with last year’s figure, it masks slowing price momentum in the Lower Mainland area of British Columbia. Slower price gains there were offset in March by a modest acceleration of price gains in Calgary, Toronto, and Montreal.”

Interactive tables and charts for MLS® Home Price Index data on Composite, Single family homes (including separate indices for one- and two-storey homes), Townhouse/row units, and Apartment units are available at www.homepriceindex.ca/hpi_tool_en.html.

Data table available to media upon request, for purposes of reprinting only.  

In focus: Some of the trends underlying the overall MLS® HPI

Momentum in the overall MLS® HPI held steady between February and March 2012, with equal year-over-year gains of 5.1 per cent. However, because the MLS® HPI is composed of four Benchmark housing types and more than 1,600 sub-areas spread among five housing markets, the overall index can mask price trend variations among Benchmark housing categories within a single housing market and between different parts of the country.

Price gains for two-storey single family homes have surpassed this in other housing categories since the beginning of the economic recovery. Despite a recent deceleration in gains, two-storey single family homes posted the strongest year-over-year price gains in March. By contrast, price gains for one-storey single family homes picked up in March, which was driven mainly by increases in Montreal and Toronto.

Price growth remains much stronger for one-and two-storey single family homes compared to multi-family units, with price gains for single family homes (6.4%) running roughly double that for townhouse units (2.6%) or apartment units (3.0%). Even so, there are significant differences between housing markets.

In Montreal, townhouse unit prices are rising faster than prices for other housing types. This likely reflects the desirability of their location, since townhouse units are predominantly centrally located while single family homes are often located further from Montreal’s city centre.

Price gains have remained strongest in Toronto since mid-2011. The rise in Toronto’s Composite MLS® HPI was a full two per cent above the year-over-year increase in Vancouver’s composite index. This represents the largest spread for price growth between these two markets in more than a year. This gap may widen further, since the Vancouver market is showing signs of coming off the boil while a lack of available supply relative to demand keeps Toronto’s housing market in seller’s market territory.

For additional information, including interactive tables, please go to: www.homepriceindex.ca.

MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 100,000 REALTORS® working through more than 100 real estate Boards and Associations.

Further statistical information can be found at http://crea.ca/statistics.

Highlights:

• Home sales rose 1.4% from January to February.
• Actual (not seasonally adjusted) activity was up 8.6% from February 2011 levels.
• The number of newly listed homes climbed 1.9% from January to February.
• The national sales-to-new listings ratio was little changed, remaining firmly in balanced territory.
• The national average home price advanced 2.0% on a year-over-year basis in February.

Sales activity recorded through the MLS^® Systems of Canadian real estate Boards and Associations edged up 1.4 per cent from January to February 2012, recouping one-third of the monthly decline in activity between December 2011 and January 2012.

Activity was up on a month-over-month basis in half of all local markets in February, led by Calgary, Toronto, Barrie, Montreal, Quebec City, Saint John, and Halifax-Dartmouth.

Actual (not seasonally adjusted) activity was up 8.6 per cent on a year-over-year basis in February. A total of 61,772 homes traded hands in the first two months of 2012, up 6.7 per cent from the same period in 2011.

The number of newly listed homes also rebounded 1.9 per cent on a month-over-month basis in February, reaching the highest level since May 2010. A rebound in new listings in Toronto and Montreal, Canada’s two most active markets, offset a retreat in new listings in Vancouver, Canada’s third largest market.

With both sales and new listings having risen, the national sales-to-new listings ratio, a measure of market balance, was little changed in February (53.3 per cent) compared to January (53.6 per cent) and remains firmly in balanced market territory.

“The national rise in both sales activity and the number of newly listed homes beyond the normal seasonal increase provides clear evidence that Canadians are confident in housing market prospects,” said Gary Morse, CREA’s President. “Confidence varies by region, as do prospects for housing demand. For that reason, buyers and sellers should talk to their local REALTOR^® to understand current and prospective trends in their local housing market.”

“It is important to remember that MLS^® home sales and purchases are a significant source of economic activity and job creation. Total consumer spin-off spending resulting from MLS^® home sales and purchases will add an estimated $19.4B to the economy, and create over 159,000 jobs in 2012,” continued Morse.

Based on a sales-to-new listings ratio of between 40 to 60 per cent, 60 per cent of local markets were balanced in February. Compared to the previous month, there were more buyers’ markets and fewer sellers’ markets.

The number of months of inventory stood at 5.9 months at the end of February on a national basis, unchanged from levels reported in January. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand.

The actual (not seasonally adjusted) national average price for homes sold in February 2012 was $372,763, up two per cent from its reading for the same month last year.

“In February 2011, the national average price was stretched upward by a spike in high-end home sales in some of Vancouver’s priciest neighbourhoods, and a replay of that was not expected this year,” said Gregory Klump, CREA’s Chief Economist. “February’s data bear this out, but other factors are now keeping the national average price aloft. The main one is the housing market in Toronto, where a tight balance between supply and demand continues to drive some of the strongest home price gains in the country, particularly for single detached properties.”

There has been a preference in recent months, in Toronto and other markets, for single family homes which are typically more expensive. This trend held in February, putting additional upward pressure on the national average home price.

PLEASE NOTE: The information contained in this news release combines both major market and national MLS^® sales information from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas.

Statistical information contained in this report includes all housing types.

MLS^® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 100,000 REALTORS^®working through more than 100 real estate Boards and Associations.

Further information can be found at http://www.crea.ca/public/news_stats/media.htm.

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While recognizing that the outlook for the global economy had deteriorated and that uncertainty had increased since it released its October Monetary Policy Report (MPR), the Bank also made those same observations at its previous meeting on December 6^th.

Economic growth in Canada had more momentum in the second half of 2011 than the Bank projected in its October MPR, but it expects the pace going forward to slow by more modest than previously expected, due largely to factors outside Canadian borders. This reiterates statements made in December 2011. On the upside, the Bank said that “very favourable financing conditions are expected to buttress consumer spending and housing activity.”

The Bank releases its updated forecast for Canadian economic growth. It now estimates that the economy grew by 2.4 per cent in 2011 compared to the initial estimate of 2.1 per cent, owing to the better than expected end to the year.

The Bank projects growth of 2.0 per cent in 2012 compared to 1.9 per cent in the October MPR, and 2.8 per cent in 2013, down slightly from the previous 2013 forecast of 2.9 per cent, with the big picture being that past and current growth estimates have been revised upward at the expense of future economic growth.

“The Bank said it expects the pace of growth going forward to moderate by more than initially thought, but the forecast for growth this year has actually been raised slightly,” said CREA Chief Economist Gregory Klump. “That reflects a weaker than previously expected growth profile for the first half of 2012, followed by an acceleration in the second half of the year.”

“The Bank reiterated that its outlook remains subject to downside risks from the sovereign debt issue in Europe. Recent credit-rating downgrades to much of the euro zone point to potential contagion by way of a drop in financial market liquidity,” he added. “The bottom line is that the Bank rate is not going to be going up anytime soon, and we may see rates lowered should downside risks materialize.”

The Bank noted that “while the economy appears to be operating with less slack than previously assumed, it is only anticipated to return to full capacity by the third quarter of 2013, one quarter earlier than was expected in October.” Overall, inflation expectations remain “well-anchored.”

A number of financial institutions have recently dropped their five-year lending rates to a record low of 2.99 per cent. This is down considerably from the advertised five-year rate of 5.29 per cent when the Bank last met on December 6^th, 2011.

The Bank will make its next scheduled rate announcement on March 8^th, 2012.

Source: CREA

I'm Here to Help,

Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

 real estate in st. thomas ontario, re listings, the mls, royal lepage, remax, homes for sale, land for s, at realty, real estate and houses, hobby farm

Highlights:

• Sales activity rose 1.8 per cent from November to December.
• Annual activity totalled 456,749 sales in 2011, up 2.2 per cent from 2010.
• The number of newly listed homes increased 3 per cent from November to December.
• A simultaneous increase in sales and new listings kept the national resale housing in balanced territory.
• The national average home price was up just 0.9 per cent on a year-over-year basis in December, marking the smallest increase since October 2010.

Sales activity recorded through the MLS® Systems of Canadian real estate Boards and Associations rose 1.8 per cent from November to December 2011, marking the fourth consecutive monthly increase.

Activity rose in more than half of all local markets, including some of Canada’s most active, with monthly declines posted in most of the remaining markets.

Actual (not seasonally adjusted) national sales activity came in 4.6 per cent above year-ago levels in December. It also stood above the five- and ten-year average for December sales.

A total of 456,749 homes traded hands via Canadian MLS® Systems in 2011. This stands broadly in line with the average over the past ten years, and represents an increase of 2.2 per cent from annual levels reported in 2010.

“The momentum in sales activity provides clear evidence that low interest rates continue to draw homebuyers to the housing market,” said Gary Morse, CREA President. “While buyers have become increasingly cautious, the hand off for sales activity going into the New Year suggests that Canada’s housing market will continue to benefit from low interest rates in 2012, and continue making a significant contribution to Canadian economic activity. Even so, prospects among housing markets and neighbourhoods differ, so buyers and sellers should talk to a local REALTOR® to understand how trends are shaping up where they live.”

The number of newly listed homes rose three per cent on a month-over-month basis, reversing an equivalent monthly decline in November. New listings rose in almost 70 per cent of local markets, including some of Canada’s most active.

With sales and new listings having climbed in tandem, the national housing market remained in balanced territory in December. The national sales-to-new listings ratio, a measure of market balance, stood at 54.8 per cent in December, down slightly from 55.5 per cent in November.

Based on a sales-to-new listings ratio of between 40 to 60 percent, just over half of local markets in Canada were balanced in December. This result is little changed from November.

The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is a further measure of the balance between housing supply and demand. Nationally, it stood at 5.8 months at the end of December, down from 5.9 months at the end of November. While it has held fairly steady near six months since April 2011 onward, it peaked in August, with December marking the fourth monthly decline and a return to where it stood at the end of the first quarter.

The actual (not seasonally adjusted) national average price for homes sold in December 2011 was $347,801. This stood just 0.9 per cent above the average selling price in December 2010, marking smallest increase since October 2010.

“Momentum for national sales activity and average price remains positive but is slowing, which suggests that the continuation of low interest rates is not causing the Canadian housing market to overheat,” said Gregory Klump, CREA’s Chief Economist. “High end home sales seem unlikely to spike again in the first quarter like they did at the beginning of 2011, so national average price momentum may wane further over the next few months. With interest rates widely expected to remain low throughout 2012, homeownership will remain affordable, and continue to support home sales activity.”

Source: CREA

I'm Here to Help,

Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

real estate st. thomas ontario, the mls, re listings, royal lepage, remax,

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Canadian home sales edge higher in November

OTTAWA - December 15, 2011 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity rose slightly in November 2011 from the previous month.

Highlights:

• Sales activity rose slightly (+0.5 per cent) from October to November on a seasonally adjusted basis.
• Year-to-date sales remained in line with the 10 year average, but pulled further ahead of last year’s levels.
• The number of newly listed homes was down 3.4 per cent from October to November.
• The national housing market remains balanced, but is edging closer to seller’s market territory.
• The national average price posted a 4.6 per cent year-over-year gain in November, the smallest increase since January.

Sales activity recorded through the MLS® Systems of real estate Boards and Associations in Canada edged upward by one-half of a percentage point. This marks the third straight month in which national activity was up from the previous month’s levels.

Activity rose in about 60 per cent of all local markets with a record November in the Halifax-Dartmouth region offsetting a dip in sales in Toronto.

“The Canadian housing market is proving resilient in the face of ongoing global economic and financial uncertainty, to the benefit of Canadian economic growth,” said Gary Morse, CREA’s President. “That said, some housing markets are picking up while others are holding steady or consolidating, so buyers and sellers should talk to their local REALTOR® to understand current and prospective trends in their local housing market.”

Throughout most months in 2011, actual (not seasonally adjusted) national home sales were in line with the 10-year average. November sales marked a break in that pattern, climbing seven per cent above the 10 year average and reaching the fourth highest level on record for the month.

“Toward the end of every year, there’s a natural inclination to compare how momentum for national sales activity and average price compare to the year before,” said Gregory Klump, CREA’s Chief Economist. “National sales activity picked up late last year, and November’s results suggest that a similar trend may be playing out again this year. By contrast, national average price also picked up toward the end of last year, whereas this year it has held steady after having peaked in the spring.”

“With interest rates expected to remain low for longer, the housing sector will no doubt be closely watched for signs of excess,” added Klump. “That said, current trends for resale housing and new home construction suggest that tightened mortgage regulations are working as intended and fostering economic stability in Canada.”

A total of 432,048 homes have traded hands via Canadian MLS® Systems so far this year, up 2.1 per cent from levels in the first 11 months of 2010. The year-to-date sales figure remains broadly in line (+0.7 per cent) with the average for that period from 2001 to 2010.

Compared to October, the number of newly listed homes fell 3.4 per cent in November. New listings slipped lower in more than two-thirds of Canadian housing markets, with Toronto, the Hamilton-Burlington region, and Calgary contributing most to the national decline.

The national housing market remains balanced, but is edging closer to seller’s market territory. The national sales-to-new listings ratio, a measure of market balance, stood at 55.5 per cent in November, up from 53.4 per cent in October. This marks the third month in which the national ratio has risen, and it now stands at its highest reading since the spring.

Based on a sales-to-new listings ratio of between 40 to 60 percent, just over half of local markets in Canada were balanced in November, while a third of markets qualified as sellers’ markets.

The number of months of inventory nationally stood at six months at the end of November. It has held steady at about this level since April, which is above levels posted during the first quarter. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand.

The actual (not seasonally adjusted) national average price for homes sold in November 2011 stood at $360,396. This represents a year-over-year increase of 4.6 per cent, its smallest increase since January.

source:CREA

Chuck Surette, Sales Representative, Coldwell Banker at Success Realty

Data shown was taken from CREA’s National MLS® Report for September 2011, and it demonstrates how homes in London /St. Thomas continue to maintain their affordability compared to other major Ontario and Canadian centres.

Source: LSTAR E-STATS

I'm Here to Help,

Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

Ontario farmland values increased by an average of 6.6% during the first half of 2011. Farmland values continued to trend upward, following gains of 2.4% and 4.3% in the two previous reporting periods.

Values increased by an average of 1.1% per month between January 1 and June 30, 2011. Farmland values in Ontario have been rising since 1993, and reached a peak increase of 8.2% in the last half of 1996.

The most significant increases were observed in southwestern and northern Ontario. Modest changes were recorded across other areas of the province, with limited or no change in farmland values.

Strong demand for land was fuelled by dairy farmers as they continued to purchase additional land instead of dairy quota, which has restrictions placed on it.

Profitability of specialty crops, such as ginseng and vegetables, continued to drive up the price of land in southern Ontario. Dairy operations and cash crop operations increased demand and prices for land in northern Ontario. Large intensive livestock operations continued to seek land for expansion and to satisfy nutrient management program requirements.

Cash crop operations continued to contribute to strong demand for workable land, which far outweighed the available supply in several areas. Stability and increases in commodity prices and crop yields continued to fuel land demand during the reporting period.

Rural residential demand increased in select areas throughout southwestern Ontario and on the outskirts of the Greater Toronto Area. As a result, smaller farms are sometimes purchased by non-traditional buyers. This contributes to increased competition for farmland.