Marnie Bennett: National Real Estate Averages Fail to Reflect Local Market Environment
The Canadian Real Estate Market Is Highly Localized; Marnie Bennett Asserts That a Detailed Look at Individual Markets Will Better Indicate the Strength of the Industry Than a Flawed National Average
(firmenpresse) - OTTAWA -- (Marketwire) -- 11/01/12 -- The Canadian housing market has been at the forefront of many news outlets recently. Some have questioned the stability of the expanding market, while others are pointing to increased prices and decreased sales as a sign of an impending bubble burst. , founder of Bennett Property Shop Realty and noted real estate broker, believes that the market, as it is, is healthy and adjusting naturally to a rise in demand. But she also asserts that national averages are not the best figures to consider when weighing the stability of the market.
CBC that an increase in housing costs have thrown "more fuel on the fire of Canada's national obsession -- home prices." The article asserts that, according to the Canadian Real Estate Association, home prices were four percent higher in August of 2012 than they were in August of 2011. This is, in many ways, an indication that the housing market is strong. With an increase in demand, prices naturally rise. As long as the financing institutions of the country are able to maintain their practices, Bennett believes that the market will stabilize.
But the article notes that "there were a few dark clouds to be wary of behind the sunny-sounding price gains." It cites a drop in home sales as a factor that may interfere with the improvement of the market: "The number of sales fell 8.9 percent across the country, a trend that has to weigh on prices eventually." Bennett speculates that this drop may be attributed to a decrease in inventory. With prices increasing and demand rising, the inventory of homes available on the market will naturally shrink.
However interesting it is to comment on the Canadian housing market as a whole, Bennett asserts that doing so does not provide an accurate view of the condition of the real estate industry. "The Canadian housing market is extremely localized," Marnie Bennett explains. "Each province, each city, has a different economic climate that is affecting its real estate. So you could have one area that is experiencing high sales and rising prices, while another is stagnant."
Bennett concedes that it is important for both real estate professionals and buyers and sellers to maintain an updated awareness of the market; however, focusing on local statistics will provide individuals with the most reliable information.
ABOUT:
, founder of Bennett Property Shop Realty, is a real estate broker in Ottawa. Through her professional guidance, her clients receive support throughout the process of a real estate purchase or sale. Marnie Bennett specializes in condo and home development marketing strategies, as well as the design of cutting edge resale tactics. Marnie Bennett works with a wide range of properties, spanning starter homes to multimillion dollar estates, and is devoted to providing exceptional professional services while continually developing her expertise.
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Datum: 01.11.2012 - 05:00 Uhr
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