Traditionally, the winter months lead to a slow-down in the industry. BUT... every situation is different.
Well, it seems as though 2009 may be different.
Sales in October were up 41.5% year-over-year across Canada as low interest rates and greater consumer confidence spurned higher home sales. Prices across Canada have also increased year-over-year to an average of $341,079, up 20.7% from a year ago.
When the financial crisis hit, home-buying effectively froze as buyers sat on the fence waiting to see what would happen. Now that it seems the worst is over, six months of pent-up demand has been unleashed on the market. Given low interest rates, relatively high absorption rates, and, in some areas, increased overseas activity, we expect the market to remain strong - on a seasonally-adjusted basis - for the short-term.
That said, no matter how hot the market is, you're still unlikely to find a buyer on Christmas Day.
Have a wonderful Christmas!