“An increase in residential housing starts combined with rising MLS® sales is expected in New Brunswick in 2010 after seeing reduced activity in both the new home and resale market in most provincial urban centres last year,” said Claude Gautreau, CMHC’s senior market analyst for New Brunswick. Housing activity during the first quarter of 2010 has yielded positive results as economic fundamentals in the province remained strong, highlighted by historically high employment levels. These conditions are expected to persist over the forecast period.

In New Brunswick’s three large urban areas – Saint John, Moncton and Fredericton – residential starts are expected to outpace last year’s totals. However, the anticipated increase in housing starts in 2010 and 2011 will be moderate. The existing home market is expected to follow the same general trend with steady price growth in both 2010 and 2011, combined with a moderate increase in sales.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a
variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

YouTube video New Brunswick

There has been fervent discussion about the impact of US recession on Mexico Real Estate and its future prospects. When talking about Mexican Property market, it may seem that it is closely related to the US real estate. Some may very well paint a gloomy picture for Mexico Real Estate market. But an in depth study of Mexico Real Estate will reveal a bright future for Mexican Real Estate in the coming year.

The real estate in Mexico has witnessed steady appreciation in the last 5 years. Both, homes and condos in Mexico, new and resale have contributed to this growth. The real estate market in Mexico is usually popular with American citizens who look for a second home or vacation home in Mexico. The reasons for this popularity have been its close proximity to USA, low cost of living, better value for money and a warm sunny climate. Recent years have seen thousands of American expatriates buying retirement homes in Mexico. Moreover, infrastructure in Mexico has improved to international standards. This has made Mexico a much sought after destination.

You may very well ask why Mexican Real Estate industry won’t suffer as a consequence of the recent fall of US economy.

Destination like Cancun, Playa del Carmen, Puerto Vallarta , Baja California region are very popular with real estate investors in Mexico. These areas are continually seeing new and grand real estate projects conceived and completed to meet the demands of the buyers eager to buy real estate in Mexico. With the introduction of Mortgage financing for foreign real estate investors in Mexico, the increase of foreign investment has strengthened the growth of real estate market in Mexico. Since, the lending process and criterion for foreign real estate investors has been simplified, it has served in increasing enthusiasm for Mexico real estate.

Mexico real estate market is much more stable than US real estate market. The residential mortgage backed securities, popular in the US property market, are not common in Mexico, so have a much less effect of the sub prime crisis afflicting US economy.

Another factor is that the buying market who are looking for the second vacation home is not really experiencing too much of the current recessionary effects in America.

One very interesting development seen in Mexican real estate market is the increase in real estate investors from Canada. Canada has experienced a very strong dollar in recent times. Strong economy and increased property markets, especially in the main areas of Toronto and Vancouver , have led to a large number of Canadian home owners able to spend money on a second or Vacation Homes in Mexico.

Mexican real estate market seems to be a promising and steady destination for investors throughout the coming years. Recessionary influences of the US have not shown any medium to long term negative impact so far on Mexico Property Market. Foreign investors from Canada and Europe are flocking to Mexico compensating for any dwindling of investment from USA. So go ahead and buy your dream vacation home in Mexico and secure your investment for the future.

Author: Insight Advisors

http://pcmexico.org/right-time-to-invest-in-mexico-real-estate/

reviewed by Moishe Alexander, CFC  canadian funding corp CEO

According to statistics released by The Canadian Real Estate Association (CREA), actual (not seasonally adjusted) home sales via the Multiple Listing Service® (MLS®) of Canadian real estate boards totaled 49,521 units in May 2009. This is less than one per cent below activity in the same month one year ago. Year-over-year declines have been shrinking since the beginning of the year.

The seasonal increase in activity continues to be stronger than normal. As a result, seasonally adjusted home sales rose eight per cent to 37,649 units in May compared to April. This marks the fourth consecutive monthly increase in seasonally adjusted activity. Seasonally adjusted activity in May was 43 per cent above where it stood in January 2009.

Seasonally adjusted sales were up on a monthly basis in about 70 per cent of local markets. Monthly activity gains in Toronto (nine per cent), Calgary (25 per cent), Montreal (10 per cent), Vancouver (eight per cent), and Edmonton (12 per cent) contributed most to the overall increase in monthly activity.

The national MLS® residential average sale price in May 2009 reached the highest monthly level on record. At $319,757, it was up fourth tenths of a percentage point from the previous record set in May 2008. Over the past four months, the national MLS® residential average price has recovered 16.4 per cent from the low in January. The average price for MLS® home sales climbed to new heights nationally, and in Saskatchewan, Ontario, Quebec, New Brunswick, and Nova Scotia. New records were posted in only 15 per cent of local markets in May, none of which are among the most active or expensive. The strong rebound in sales activity, not price, in Canada’s most expensive markets is driving up average prices nationally and in some provinces, just as a sharp decline in activity in these markets pushed average prices lower in late 2008.

The supply of homes coming onto the MLS® market continued to decelerate in May. Seasonally adjusted MLS® residential new listings edged lower by eight tenths of a percentage point to 65,070 units, the lowest level since December 2005. Seasonally adjusted new residential listings in May were 19 per cent below the peak reached one year ago.

With the number of sales rising strongly and new listings trending downward, the balance between supply and demand is firming up in British Columbia, Alberta, Saskatchewan, Ontario, and Quebec. This resulted in national sales activity as a percentage of new listings reaching the highest point since December 2007. Residential dollar volume for MLS® sales climbed 10 per cent from the previous month to reach $11.4 billion in May. This is more than 50 per cent above the low of $7.5 billion reported last January.

“Sales activity is now closer to the pre-recession peak than it is to the recent low point reached last January,” says Regina Broker Dale Ripplinger, President of The Canadian Real Estate Association. “Strengthening consumer confidence, low interest rates, and improved affordability are drawing buyers to the housing market across Canada,” he added.

“Fueled by a string of monthly increases in activity, the number of transactions in May reached the highest point since July 2008,” said CREA Chief Economist Gregory Klump. “Inventory levels are still high in many markets, but fewer new listings and rising sales activity suggests that the selection of homes available for sale may shrink as the year progresses. The supply of homes up for sale needs to be drawn down further before average price increases become more widespread among local markets.”

http://www.muchmormagazine.com/2009/06/national-resale-housing-continues-to-rise/

But rebounding sales in some of the most expensive markets skewed the national average price, the Canadian Real Estate Association said in the report.

The average home price last month rose 0.4 percent to C$319,757 ($282,971), topping the previous record set a year earlier. It was the first year-over-year increase since May last year.

The average price has recovered 16.4 percent from the low reached in January, CREA said.

Home sales rose 8 percent to 37,649 units in May from April, the fourth consecutive monthly increase on a seasonally adjusted basis.

At the start of the year, the year-over-year drop in sales was a staggering 41 percent and the declines have narrowed since. Nationally, 49,521 units changed hands in May, down 0.8 percent from a year ago.

‘In the short space of about 18 months, the housing market has gone full circle from a sellers’ market, to a flat-out buyers’ market, and back to a sellers’ market,’ said Doug Porter, deputy chief economist at BMO Capital Markets.

He cautioned that further gains may be tougher to come by with a still-weak Canadian employment outlook.

‘The housing market is not about to go off to the races, even if it has been pulled back from the brink.’

Of the 25 major markets that CREA tracks, 14 reported rises in unit sales year-over-year, with five markets, mostly in the western provinces of Alberta and British Columbia, posting double-digit increases.

Those same markets had suffered the biggest drops only several months ago.

Prices rose in 14 markets from a year ago, led by a 17.3 percent increase in Newfoundland and Labrador and a 12.1 percent climb in Saint John, New Brunswick.

‘New records were posted in only 15 percent of local markets in May, none of which are among the most active or expensive,’ CREA said.

‘The strong rebound in sales activity, not price, in Canada’s most expensive markets is driving up average prices nationally and in some provinces, just as a sharp decline in activity in these markets pushed average prices lower in late 2008.’

New listings eased by 0.8 percent to 65,070 units, the lowest since December 2005.

($1=$1.13 Canadian)

(Reporting by Ka Yan Ng; Editing by Frank McGurty) Keywords: CANADA HOUSING/

(kayan.ng@reuters.com; Reuters Messaging: kayan.ng.reuters.com@reuters.net; 416-941-8109)

http://www.xe.com/news/2009/06/15/485397.htm