Posted by: Daryl & Wendy Ashby | March 13, 2010

Market Slightly Stirred but Not Shaken

The froth in the market which drove prices up almost 20% in 2009 and which many threatened was the beginning of a housing bubble, seems only to have stirred more interest in buying, according to a poll recently released.

The Royal Bank of Canada’s annual home ownership study showed the number of Canadians intending to buy a home in the next two years has risen to 10 per cent from 7 per cent.

Respondents think prices will continue to rise in 2010, and their belief that housing is a good investment also climbed to a 12 year high, with more than a quarter convinced their home will be their primary source of income when they retire.

In the meantime, few expect the current level of housing starts to be maintained.

In the second half of the year, we should observe a level of activity near the demographic needs of roughly 165,000.

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