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The Canadian Resale market swung upwards in December, according to the latest release of the Teranet-National Bank Composite House Price Index- which indicated increases in five of the six markets surveyed.

The index indicates that prices were up 0.3% in December from November, as well as having gone up 4.1% from the same time the year before.

Looking at specific regions, there was a 0.1% increase in Calgary- which signalled the first gain out of the last five months. In Vancouver and Montreal both, the rise was 0.5%. Toronto rose 0.2%. Halifax was a much larger 3.6%- which did not impact the overall index as much as one might think. On the other side of the spectrum, Ottawa declined by 0.4%- which is the fourth consecutive decline. The 'Oakville Real Estate' market was not included in the markets that were surveyed.

Looking year-over-year, this was the “sixth month in a row of deceleration”- with the only exception being Halifax, where they accelerated by 8.5%.The report says,” Data for January from the Canadian Real Estate Association show generally balanced conditions in major urban markets. Toronto and Vancouver could even be considered rather tight markets. The federal minister of finance announced January 17 that the maximum amortization period for an insured mortgage will be reduced to 30 years from 35 years effective March 18. This prospect could influence the resale market between now and the effective date.”

02/23/2011 –This article was posted by Oakville Real Estate agent Ryan Crane, who works throughout the GTA and specializes in Oakville homes for sale, and homes for sale in the Milton, Mississauga, Burlington, and Oakville Real Estate markets. You can find him at www.OakvilleRealEstate4sale.ca. Article from propertywire.

This Oakville Real Estate Agents website provides access to all of the Oakville MLS Listings for all Oakville Homes for Sale including all the Oakville Sold Prices.

Tags: Oakville Homes, Oakville Real Estate, Oakville Real Estate for Sale, Oakville Real Estate Agent
 

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