CREA Forecasts a Rise in Canadian Home Sales

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Even if national home sales are below the levels recorded last year, recent demand is sure to have some effect on the country’s housing market – CTO of Syndicate Mortgages

Marcus Arkan, CTO of a leading Canadian mortgage firm quotes CREA’s (Canadian Real Estate Association) stats on rising home prices. According to the real estate expert, the fact that national home sales increased over a monthly basis is a testament to the improvement of the country’s economy.

According to the mortgage expert, CREA recorded the number of newly listed homes up 3.2% from February to March. The new findings also suggest the Canadian housing market to be in fairly balanced territory on a current basis as well.

When asked about the rise in real estate sales, Mr. Arkan had this to say, “CREA says that home sales have improved in more than half of the local market. It’s not surprising how the economy got this way. Areas like Greater Vancouver, Montreal and Toronto are hotspots for buyers especially for families who are looking for single family homes.”

The SIM expert also adds that since local market conditions can differ on the national level, it would serve people well if they discuss their options with realtors for their choices. He also credits the trend to be the result of increasing housing demand. Mr. Arkan quotes CREA’s chief economist Gregory Klump, “…the factors that crimped March sales this year were not in play for the same month last year, resulting in speculation that the gap between sales activity this March and March of last year would be bigger than it was in February. That the gap in fact improved marginally speaks to the resilience of housing demand in Canada.”

Mr. Arkan points out the success of the real estate market in Canadian cities that are near the Pacific coast like Calgary. The mortgage expert argues that a part of the populace will still like taking residence in such areas even if the rates are higher as compared to the local market. In fact, as Mr. Arkan points out, Calgary is the only housing market in which the long term averages are greater than affordability measures.

In the end, Mr. Arkan concludes his analysis by saying that the economy will survive if rising home demands are any indication. To learn more about Canada mortgage rates please visit the website    

About Syndicate Mortgages
Syndicate Mortgages is a leading Canadian Mortgage that specializes in finding the best mortgage rates for customers. The firm has relationships with over 70 Canadian mortgage lenders as well as access to a variety of credit unions, major banks, private funds and trust companies. The company is headed by its CTO and mortgage expert Marcus Arkan and is composed of industry experts that offer the best financial advice and real estate products to customers. For more information about the company please refer to the following -

Contact Details
Syndicate Mortgages Inc.
Toll Free: (888) 646-1062
Email: info(at)smibroker(dot)com

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