Wednesday, July 8, 2009

Montreal Housing Market Rebounding

From The Montreal Gazette:

MONTREAL - The housing market in Montreal is the most balanced between buyers and sellers it has been in decades, according to the Quebec director of Royal LePage Real Estate Services.

As a result, Dominic St-Pierre predicts the average house price will rise a moderate 2.1 per cent this year to $263,500.

“Between 2001 and 2007, it was a seller’s market and buyers had to act very quickly or they would lose the property they were interested in and at the end of 2008 and early 2009, we experienced a shift to a buyer’s market,” St-Pierre said. “Today, we have reached a more balanced state where supply and demand are more in line.”

That should result in a “win-win situation for sellers and buyers for the second half of 2009,” he added.

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