Remax: "Canada's housing market showing healthy balance going into 4th quarter"

Oct. 5, 2010 | Market Update | By Aaron Rossetti

By The Canadian Press -- Re/Max says the outlook for Canada's home resale market looks healthy going into the final three months of 2010, after a summer "pause."

The national real-estate sales organization says it anticipates fewer sales than in the surprisingly strong fourth quarter of 2009 but prices are expected to hold up.

Re/Max says there hasn't been a big influx of listings, while demand has normalized after a very hot period in late 2009 and early this year.

It also says there was a good sign from the number of higher-end properties sold this summer in both smaller and larger centres.

It says the luxury property segment is historically one of the first to show problems when a market is softening and that didn't happen this summer.

Re/Max says it expects more normal conditions going forward, with housing sales gaining momentum as the economy improves.

http://ca.news.finance.yahoo.com/s/05102010/2/biz-finance-canada-s-housing-market-showing-healthy-balance-4th.html