RE/MAX is out with its Housing Market Outlook for 2012. It says 2011 was a good year for the Canadian housing market and growth is expected to continue.
Here in the Kitchener-Waterloo area, the number of units sold has gone down slightly but the average price has gone up. That's according Adrian Baas of RE/MAX Twin City, who says it, "indicates that the prices have actually climbed by almost 4%."
He attributes that to a higher number of "move-up buyers", those moving into more expensive homes.
Baas says they're expecting a 1% to 2% increase in sales heading into next year. "The market has been extremely steady...the dollar volume right now is 1.6 (percent) up from last year."
The RE/MAX report says after a strong start to the year, home buying slowed over economic concerns. It also notes that Kitchener-Waterloo's diverse economic mix should contribute to overall stability in 2012.
by Tiffany Hendsbee, 570 NEWS
http://www.570news.com/news/local/article/307214--housing-market-growth-expected-to-continue