Housing Market in Canada goes soft to lure the buyers
The housing market in the country has experienced a rough phase over the prod of time especially after the “new announcements” coming from the Finance Minister, a few months back.
Now, the national housing market is shifting to a path which seems to be more sustainable than before, in spite of various differences amongst the regions and provinces.
The demand in the housing market
The demand for housing market seems to be softer which has actually forced the sellers to lower the prices of the house. Across most of the important provinces, the housing market has shown much less of sales in compared to the last years. Hence, to lure the buyers, the real estate owners have corrected the prices of these houses and have tried to give brethren to the buyers.
Factors responsible for improvement in Housing market
The first and foremost factor is the growth in “job market” which has given more openings than before to the employees. Even the national economy also has shown a great improvement, n fact it has been better than many counterparts like USA. The economy has recovered faster than many other countries.
The other important contributor to the lowering of “housing prices” are the “disinterest” of the buyers due to changed mortgage rules and the announcement coming from the Finance Minister, only a few months back.
County’s outperformance is certainly a major factor for the revival of housing market. This has helped the housing market to revive back and perform as before.
The improving trend
Alberta and Saskatchewan have shown an improved trend of housing sales, though the news is not so appreciating in British Columbia. In spite of a struggling market, Canada and its citizens have made up almost 25% of the international home buyers.
Buyers looking for a change in mortgage plans
The existing buyers are looking for options to get their existing mortgage plans change to a better one. This would probably help them to pay back the loan faster and in an easy way.
The housing market in the country has been a “tank of changes and surprises” over the past. But, the out performance of the job market and revival of the economy has somehow been holding the market quite well.