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The Canadian market for residential homes still looks positive As residential real estate markets go was nothing if not interesting According to Ozzic President Royal Residen tial Real Estate Services although there were significant varia tions in real estate markets acrois the country during the past year almost all areas saw growth Typical of the Canadian mosaic housing sales and prices rose dramatically in some markets moderately in others while some centres experienced very little growth Next year with a strong economy and moderate interest rates home buying demand is expected to continue to be relatively strong in most areas but considerably more stable The stock market downturn in October is expected to have little or no im pact on real estate markets next year says The one common thread is that has seen some of the most volatile markets in many years says Typically the spr ing months saw very strong sales and price increases in many centres followed by a return to much more stable market condi tions by the summer months By the end of this year the market in Canada as a whole will see an increase of housing sales in 1987 of close to nine per cent says Jurock The overall average price will be up close to per cent to Nineteen eighteight is expected to be a more moderate year with fewer of the radical and downs experienced in points out that stock market events like the one that oc curred in October have no direct impact on real estate markets In for example stock markets experienced major declines but the average price of homes in Canada rose significantly We foresee little impact on the economy as a whole and virtually no impact on real estate sales or prices as a result of the stock market downturn in October says Jurock Royal LePage forecasts a seven per cent increase in the number of residential resale housing units that will be sold next year A six per cent increase in the average selling price is forecast for in Canada which will bring the average price UP to According to there is a danger in using such overall averages Its been said that all averages are wrong he says because an average blurs over the more meaningful individual components that make up the average For example although the average price of a home in Canada is up an estimated per cent in 1987 the increases across the country have ranged from one per cent in HalifaxDartmouth to per cent in Toronto Although some factors including interest rates affect all parts of the country real estate markets are primarily reflec tions of local conditions says Jurock Perhaps the largest single influence on residential sales and price trends is the local economy he adds followed by local consumer confidence levels In Royal is forecasting a year that is closer to the historical norm Residential resale housing activity in Canada is expected to increase seven per cent while the average price of homes is forecast to rise six per cent to by the end of 1988 Royal is Canadas leading realtor with over residential and commercial real estate offices and close to employees in Canada and the United States with affiliates overseas REAL ESTATE OUTLOOK Novtinber 18 lWPgcl 32B St Geotgelown 8775296 or 8778402 HUGHES CUDDLE UP If ft Jf Bill tap 8732437 THIS CERTIFICATE Entitles You To A PROFESSIONAL HOME EVALUATION At No Cost Or Obligation CALL BILL McKEOWN OR ANDY KING FOR PROMPT PROFESSIONAL AND FRIENDLY SERVICE RESTAR MARLATT REALTY GROUP INC NETWORK OF THE STARS MEMBER REALTOR Not Intended to homo already tad for Andy Rap