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Snapshot of Montreal real estate market

Housing market rests on solid foundations, according to the Canada Mortgage and Housing Corporation.

market

The Canada Mortgage and Housing Corporation says that “Montréal area resale market will rise slightly in 2012″.

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According to the Canada Mortgage and Housing Corporation “sales in the Montréal Census Metropolitan Area (CMA) increased by 16 per cent in April 2012 compared to April 2011. This was the eleventh consecutive monthly increase in sales, and the second best result for a month of April after the record set in 2010.”

“After pulling back in 2011, demand on the Montréal area resale market will rise slightly this year [2012], thanks to the low interest rates and moderate employment growth” says the Canada Mortgage and Housing Corporation.

“The Quebec Federation of Real Estate Board said in a June 2012 publication that “The number of new residential properties sold through the MLS® system in Québec has increased every year for the past three years, growing from 2,107 in 2008 to 3,196 in 2011.”

market

More press releases about the real estate market in Canada and Montreal:

June 2012
"The results of the latest starts survey conducted by Canada Mortgage and Housing Corporation (CMHC) in May 2012 show that 1,780 dwellings were started in the Montréal census metropolitan area (CMA), compared to 2,121 in May 2011. A more balanced resale market contributed to a decrease in new home starts in the Montréal CMA. More choice on the resale market means less spill over demand to the new home market.”

April 2012
"The Greater Montreal Real Estate Board (GMREB) indicated in an April 2012 press release that “The median price of condominiums increased by 7 per cent…[and] the median price of single-family homes grew by 5 per cent” in comparison to March 2011. In the same press release they note that “In terms of active listings, real estate brokers have a very large supply of properties to present to their clients, as there are currently 29,000 homes for sale in the Montréal Metropolitan Area”.