The GMREB says that “the residential resale market reached new heights in 2007″.

The Greater Montreal Real Estate Board (GMREB) indicated in a February 2008 press relase that “the median price of a single-family home in Montreal metropolitan area continued to rise with a 10% increase compared to January 2007″. In that same press release they say “…everything leads us to believe that the market will still be sound this spring.”

According to the Canada Mortgage and housing corporation “Solid job creation and steady economic growth in Quebec during 2007 pushed housing starts up by 1.4 per cent to 48,553 units. A moderation of the economy will cause a slight shift downwards in 2008 to 46,500 units and 45,375 in 2009. A reasonably healthy resale market will also fuel average MLS® price growth in Quebec; 6.6 per cent in 2007, 3.8 per cent in 2008 and 3.0 per cent in 2009″.