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There are now growing number of leading indicators that point to the impending rebound of Canada’s real estate market. One of the of the most exciting development is the 75.6% growth in sales in Vancouver compared to the same period of last year. This is one indication that the market is poised to make a major shift that will sustain its move towards a more robust growth and performance in the succeeding months.

Real estate and property experts agree that demand has been bottled up for quite a time already and the market is now at its tipping point. Major markets in Canada are now going seeing record sales jump not seen in years. These events are unmistakable proof that the current landscape is now on the upswing.

Recent studies indicate that Vancouver and Toronto, are taking the lead by posting the best sales performance in recent months. Vancouver reported a 75% growth in sales while Toronto posted a 27% growth rate compared to the same period last year.

Looking closely at the confluence of events in the real estate market, we can easily observe that the market is now stable as evidenced by the encouraging indications of sustained recovery in the past several months.

The relevance and resilience underscores its importance to the economic performance of the country. Canadians are strong adherent to home ownership. This distinct character of Canadians has been the major lifeblood that kept the real estate industry above water especially during those times when other markets around the globe are going under.

This is what was evident in the events in Canada’s real estate market where buyers went against prevailing trends and started making major purchases. They were able to capitalize on the sudden shift in the market as they immediately benefited from the increased value of the properties bought when the market was still down.

Sadly, the fence sitters are not as lucky as they will now have to face the grim prospect of increased mortgage rates, higher prices and lower real estate inventory levels.

Market experts and financial analyst attribute the recent uptrend in the real estate market to three major market variables. These are:

o Bottled-up demand of home buyers

o Lower rates of interest

o Lower prices

These market variables coupled with the decreasing levels of inventories has resulted into very heated conditions in major real estate markets. This is the main reason why we are seeing the reemergence of multiple offers in major markets.

Although the sales variable is the major leading economic indicator that most analysts are closely following at the moment, there are also other economic indicators that provide a strong reaffirmation that indeed the real estate market is now on an upswing.

There is now a high sense of urgency for serious home buyers to consider their options and make their decision as soon as possible. Real estate prices are holding or are starting to move up. Further, inventory levels are consistently on the negative range for quite a time already. If you want to get good deals in your home buying then the time is rife for some quick action.

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Source by Laurel R. Lindsay

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