Kitchener Waterloo Real Estate Market Predicted to Stabilize in 2011

By Warren McNeil,

The Kitchener Waterloo Real Estate market is expected to stabilize in 2011 according to Canada Mortgage and Housing Corporation. They held their annual outlook meeting yesterday in Kitchener. This year we saw a very busy first half and then the second half things slowed right down. Some analyst believe that the slowdown was caused by sellers trying to beat the HST and fears that interest rates would go up.

Erica McLerie, a CMHC senior market analyst, says “Mortgage rates aren’t expected to rise very quickly, they may rise marginally in 2011.”

Kitchener Waterloo Real Estate home prices should remain stable in 2011 and we’re expecting slow and steady growth. This is ideal for first time home buyers because interest rates are still low.

I think we are very lucky that the interest rates have remained low for so long. If new construction is what you are after, then there is lots of choice in that area as well. While Kitchener Waterloo Real Estate resale home prices stabilize, there are plenty of entry level condominiums and lofts available for first time home buyers, empty nesters, investors and downsizers to look at. If you want to be in the downtown core, there are going to be hundreds of new condos and lofts going up in the next few years. Their is a broad range of condos to look at. Everything from 129,900 up to $500,000+.

Resources:

http://swo.ctv.ca/servlet/an/local/CTVNews/20101102/real-estate-market-101102/20101102/?hub=SWOHome

Kitchener Waterloo Real Estate Market Predicted to Stabilize in 2011