 鲜花( 7)  鸡蛋( 0)
|
A slowdown in some of the country's most expensive cities for housing continues to drag down the average sale price of a home in Canada, the Canadian Real Estate Association said.0 D6 ~3 p! @% {9 m% k
) e& P# Y* o8 K* X9 aThe average sale price of a home last month was $281,133, a 9.9% decline from a year ago. It's the fifth straight month that prices have fallen in the country's major markets on a year over year basis, and each month the percentage decline has increased.8 I$ Y4 C/ {) A9 L% `2 W0 }- o
# e& Q s( U& F8 t3 c# TSales also continue to decline across the country. In major markets, sales in October were down 15.1% from September. The 32,046 sales in October for the entire country were the lowest monthly level since July, 2002.
. I; @- I% T B! S6 x& m) w5 o
) N9 @9 f- V% B+ @"The breadth and depth of the drop in MLS activity suggests a major downshift in consumers psychology," said Gregory Klump, chief economist CREA. "That has moved many homebuyers to the sidelines until economic news begins to improve.". U9 }8 e+ s: Y6 I) P
% v" P6 ]) d5 K7 I! q. `CREA said activity was down in 75% of the Canadian markets it surveys, including the five most active, Toronto, Montreal, Vancouver, Calgary and Edmonton. Toronto accounted for one third of the decline in the national sales figure.
$ b* E. |" p: s$ j. Z) |
6 ]2 \' \8 c6 X" K- X& K"Many homebuyers across Canada battened down the hatches in October as they were concerned with dire headlines about stock market volatility and a global economic downturn," said Mr. Klump.+ ]5 j( u. [" I2 B% ~
1 y: E3 D+ C7 _/ S! x! LHe said the government's tougher restrictions on home buying played into the decline. New rules that came into effect last month have forced consumers to have at least 5% down on any home purchase. Mortgages can also be amortized over 35 years, down from 40 years, making for a larger monthly payment.
( }0 L, D+ d- O$ G) A4 Z/ U! v( e! ?0 |2 x5 L0 O- n
The market is expected to get some relief from the fact that new listings are expected to decline, Mr. Klump says.
" L! L& _6 L' f; a3 z5 h
0 e3 d! P T2 p1 ?: N8 M' zCREA president Calvin Lindberg said consumer confidence has not been this low since the mid-1990s. "The major drop in consumer and a steady stream of economic bad news from the financial markets is taking its toll on the national housing market," he said.8 M9 n3 K/ X$ v, H* c
7 t1 x) `- X: GThe association pointed out a decline in housing is bad news for the overall economy, saying spin off spending from MLS transaction is about $15.3-billion per year when you include moving and renovation costs and the purchase of new furniture and appliances. |
|
狗仔卡
发表于 2008-11-14 11:16
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡
发表于 2008-11-14 17:05
