Maple Ridge Houses Help BC Home Sales to Drop National Average
The Canadian Real Estate Association recently released a report which showed Maple Ridge and other local markets slightly dropping the sales of BC homes and decreasing national average.
- (1888PressRelease) June 23, 2011 - Maple Ridge, BC - The Canadian Real Estate Association (CREA) recently released statistics, which showed a slight decrease in national residential home sales. Between March and April 2011 the national housing market's seasonally adjusted home sales decreased in sales by approximately 4.4 percent. According to the CREA, the national average decrease was led by sales from residential homes within popular markets such as the Greater Toronto Area as well as the Greater Vancouver Area, which includes Maple Ridge Houses within British Columbia.
The CREA has reported that the actual national average activity was down approximately 14.7 per cent from activity levels which were reported in April of 2010.
"Although down nationally, sales activity in April this year compared to April last year was up in a number of local housing markets." said Gary Morse, CREA's President.
Housing market trends often evolve from national trends due to local economic factors; therefore buyers as well as sellers are encouraged to contact a local real estate agent before making any decisions.
In addition, several transitory factors artificially boosted sales last year, including the impending tightening of mortgage rules and constant speculation about higher interest rates as well as introduction of the HST in some provinces. This past March additional measures were implemented in an effort to tighten mortgage rules, and the other transitory factors were absent, therefore it is difficult to fairly compare the two years by statistics alone.
The average price for homes sold nationally in April 2011 was $372,544, which is an eight percent increase from April of 2010. In addition, there was also an increase of newly listed houses in April, which caused over two-thirds of local markets in Canada to become balanced in April.
"Changes to mortgage regulations that took effect in April 2011 likely sidelined a number of first-time homebuyers," said Klump. "By contrast, higher end home sales in Greater Vancouver [including Maple Ridge houses] and Toronto had their best April ever."
For more information about the current housing market as well as Maple Ridge houses, contact Team Elite at Landmark Realty.
About Team Elite
Team Elite is an Abbotsford based company which offers real estate solutions throughout the lower mainland. By keeping up to date with the latest market conditions, government regulations, and upcoming developments in the industry, Team Elite is able to deliver high quality real estate solutions to all of their clients.
To start working with an agent right away, or to obtain more information, contact Team Elite at
Landmark Realty
#100-32555 Simon Avenue,
Abbotsford, BC
V2T 4Y2
Phone: (604) 855-0800
Website: http://www.teamelite.ca
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