Good News for Sellers
Recent predictions about the housing market hint at a verystrong market in 2011. According to Central 1 Credit Union, home sales willrise by 5%, while prices are set to reach a record high.
It is believed that an undersupply in the new home marketthis year will result in higher demand for existing homes. In addition, housingstarts are predicted to increase by 9 percent (reaching 66,000). Many of thesestarts will not be ready for 2011 though, meaning that resale value of existinghomes will be above average.
As with any predictions, only time will tell if this beliefis accurate. At any rate, there’s nothing wrong with being optimistic.
Here’s to a great year in 2011
Source: Toronto Star