TORONTO (Reuters) – Daniel DiManno sold his Toronto house for less than he had hoped and wanted to see if prices would cool before he bought a new one. But Canadian mortgage rates are rising again and that’s spurring DiManno and others to jump back into the market, cutting short an already brief housing downturn.
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CALGARY — A soft landing is underway in the Canadian housing market and should continue but Calgary and Edmonton are bucking the trend with sales rising compared with a year ago, says a new report released Tuesday by BMO Capital Markets.
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Fewer houses for sale and greater demand are pushing single-family resale housing prices up to near historical averages, says the Calgary Real Estate Board.
The average price rose to $518,392 in March, up 9.6 per cent from $472,698 during the same month last year.
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Fewer Canadians have been taking the plunge into home ownership for the first time in the past few years — and that worries economists studying the national residential real estate market.
The health of the first-time homebuyer segment of the residential real estate market is crucial for Canada’s homebuilders, an economist told the recent national conference of the Canadian Home Builders’ Association.
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Stronger than usual home sales in December kept Medicine Hat real estate market on a steady upward trajectory to end 2012, and that might be the trend to watch in 2013, says the incoming president of the Medicine Hat and Area Real Estate Board.
Murray Schlenker also says that the Medicine Hat real estate market closed in on the $400-million mark in sales for 2012 – making the past 12-month period the busiest since 2008.
“Over the year we’ve seen approximately a 20 per cent increase in the volume of sales,” said Schlenker, a realtor with Better Homes and Gardens Real estate, Signature Service.
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Innovative, eye-catching projects in the categories of infrastructure, institutional and commercial real estate
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In the late 1950s, John Bogle changed the investing world.
Bogle became the chief advocate for index investing, a strategy based around the idea that investors should stop trying to pick individual stocks, quit buying mutual funds, and just buy the big stock indexes.
Why would an investor take such a hands-off approach? Bogle cited research that proved that most actively managed mutual funds don’t beat the market — and on top of that, they charged hefty management fees for their mediocre performance. The data was damning, and Bogle’s fund, the Vanguard 500 Fund, became one of the most popular investment funds in history, today worth more than $26 billion.
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