Over 200 REALTORS(R) and representatives of more than 100 real estate Boards and Associations from across Canada will visit their Members of Parliament on March 26th and 27th to discuss two key federal issues impacting Canada’s real estate industry.
The first REALTOR(R) proposal is to raise the maximum amount Canadians can withdraw from their RRSPs under the Home Buyers’ Plan from $20,000 to $25,000 per individual. The increase is needed to account for the 27 per cent increase in consumer price inflation since the plan was established in 1992.
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Ile-des-Soeurs, March 6, 2007 - According to statistics compiled by the Greater Montreal Real Estate Board (GMREB), the real estate market begins the year 2007 on a high note with 8,954 transactions, an 11% increase compared to the 8,073 transactions recorded for the same time period in 2006. For the month of February, 5,350 sales were recorded on the GMREB MLS® system, up by 8% compared to the 4,932 sales of February 2006. Read More
The seasonally adjusted annual rate of housing starts was 196,200 units in February, down from 248,500 units in January, according to Canada Mortgage and Housing Corporation (CMHC).
“Following the unusually strong surge in construction activity in January, which was partly attributable to the unseasonably warm weather, housing starts in February returned to levels more in line with expectations” said Bob Dugan, Chief Economist at CMHCs Market Analysis Centre. “Housing starts are likely to increase in the coming months and are forecasted to reach 209,500 units in 2007.” Read More
