Market Update March 2002
Good reason to be optimistic!

January was a great month!

Here is what happened:

• 41,451 homes were sold across Canada.
• 10% more homes were sold in January than in December.
  
• January was the third month in a row for record sales.
  
• Seasonally adjusted dollar volume broke all previous records with the value of homes sold totaling $7.5 billion.
  
• Unadjusted national average MLS home price rose 9.6 percent to $177,806 compared with January 2001's figures.

According to the Canadian Real Estate Association's CEO, Pierre Beauchamp, "The surge in activity was widespread among markets across Canada with only a shortage of listings in lower and moderate price ranges holding sales in check. Low interest rates and strong consumer confidence can be credited for housing market strength. Combined with the recent improvement in job growth, there is good reason to be optimistic that home sales will remain strong this year."

Interested in learning more about what's involved in buying or selling a house? Check out the Consumer door of our web site, www.kormanassociates.com

Interested in learning more about market conditions and Practice and Legal Tips for Realtors? Check out the Realtor door of our web site, www.kormanassociates.com

Interested in books on real estate? Check out Howard Turk's best selling book, "HOMEfree, Everything You Need to Know about Buying and Selling a Home", or Howard's newest book, "House Rich : Your Home as Your Best Investment" -published by Prentice Hall Canada and available in bookstores across Canada.

Korman & Associates is one of Canada's leading real estate law firms, closing thousands of transactions annually. Put our experience to work for you!

Korman & Associates
Barristers & Solicitors
Realtor Hotline 905.602.6515