Housing Prices Continue to Rise
I remember when real estate had “seasons”. When people waited until the spring or summer to put their house on the market and November, December and January were considered months when property didn’t sell. But for or the past couple of years it seems that those seasons have gone by the wayside.
In fact, according to the Teranet-National Bank Composite House Index, as of December 2009, housing prices in Canada rose for an eighth straight month.
The index, which has tracked real estate prices in six cities – Halifax, Montreal, Ottawa, Toronto, Calgary and Vancouver – since February 2000 showed that the biggest increases in 2009 were in Calgary, followed by Vancouver.
With interest rates still at historical lows, it’s no surprise that the housing market continues to be hot across the country, regardless of time of year. Is it time to get your house on the market? Contact a mortgage broker to discuss your options.
