According to a report released by Royal LePage this week, the real estate market is expected to favour sellers for the first part of 2014, with a strong spring expected.
“We predict continued upward pressure on home prices as we move towards the all-important spring market,” Royal LePage CEO Phil Soper
“In addition to normal demand, housing prices in Canada this year will be influenced by buyers who put off purchase plans in the very soft spring of 2013. Talk of a ‘soft landing’ for Canada’s real estate market in the new year is misguided. We expect no landing, no slowdown, and no correction in the near-term. Conditions are ripe for as strong a market as we saw in the post-recessionary rebound of the last decade.”
With that in mind, house price momentum is also expected to continue into the spring, which is all the more reason for those thinking about selling their homes, to jump in over the next few months. If you're thinking about selling your home, or have questions about your home's value, please feel free to contact us.
You can also read more about this Royal LePage report in the Globe and Mail.