TEAM HILSON ( Milton Real Estate )

BEYOND YOUR EXPECTATIONS
Welcome to TEAM HILSON ( Milton Real Estate ) Sign in | Help

Teri Lynn & Norm Hilson

Canadian homes now more affordable

Canadian homes now more affordable

At last, homeownership is within the grasp of some Canadians but their choices may be somewhat limited.

Houses have become “slightly” more affordable for the average Canadian but they will have to think small.
According to RBC’s latest Housing Trends and Affordability report, household incomes outpaced a modest rise in mortgage carrying costs associated with a buying a home in the fourth quarter of 2012.

"When you look at Canada's year-on-year affordability trend, 2013 was little changed from 2012, and even from 2011 or 2010, for that matter,” says Craig Wright, senior vice-president and chief economist with RBC. “That being said, this stationary trend also means that a divergence still exists - owning a detached home at market value is more of a stretch for homebuyers than owning a condo."

RBC says they expect home resales to rise 0.6 per cent to 461,000 units in 2014, keeping Canada’s housing market near its recent “not-too-hot and not-too-cold levels.”

Regionally, it was a mixed bag of results. While conditions have improved in B.C., housing affordability remains “relatively poor” while a surge in new listings in Manitoba has allowed greater affordability. Ontario remains unchanged while houses have become more in reach in Alberta.


Comment Notification

Subscribe to this post's comments using RSS

Comments

 

Gloria Rowe said:

This post is so good and contain too much informative material in it about  possibility to buy a property after a bankruptcy. You site is  too good as compare to this site https://www.assignmentgeek.com.au/editing-services/ in working and posting good and informative material. Keep it up!

January 19, 2018 9:51 AM
 

Paul Cohen said:

Thank you for always helping us with the house sales information and your work is really appreciable. It will be great if you share this at https://www.writeyouressays.com/ website too. Thank you!

February 26, 2018 12:10 AM

Leave a Comment

(required)
(optional)
(required)
Submit

About Norm & Teri Lynn Hilson Broker Sales Rep

Born and raised in Milton, with complete knowledge of the surrounding areas. Our success is because of our commitment to service. We look forward to helping all our present, and future clients.