Royal LePage: Realtors are optimistic

Canadian real estate industry professionals are confident and believe in the sustainability of the current market, according to a recent Royal LePage internal survey.

Interviewers asked over one thousand Canadian real estate agents and brokers several questions to reveal the market mood.

Do you think the housing market’s recent performance is sustainable?

Yes (61%)

No (28%)

Don't know (11%)

What factors do buyers think have contributed to the housing market’s recent performance?

Low interest rates (66%)

Stronger economy (9%)

Release of demand (7%)

Good prices (6%)

Job stability perception (4%)

Positive media coverage (3%)

Government incentives (2%)

Why are sellers choosing to sell at this time?

Upgrading (33%)

Downsizing (25%)

Relocating (15%)

Realize return on investment (12%)

Retiring (6%)

It's clearly visible that realtors are optimistic about the near future. These expectations are mainly based on the low interest rate environment, which is considered the main reason for the current performance of the real estate market in Canada. Although the governor of Bank of Canada made commitment to keep the low interest rates at least till the second quarter of 2010, however, future growth of the rate is inevitable and will probably represent important point, when the real strength of the real estate industry will be tested.

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