Pip I- THE HALTON HILLS HOMESTYLE Wednesday May 1M1 Market strong Metro Toronto is experiencing its strongest housing market almost two years but real estate experts caution that its too early to say the recovery is here to stay Since January the real estate market has been steadily improv ing throughout the Toronto the area from Hamilton to Bowmenville and north to says Bernie Vogt Senior Vice President for Royal in Toronto Overall the first quarter especially March has been very good compared to Vogt attributes the turnaround to lower interest rates and more affordable prices The market is being led by firsttime buyers who realize that prices are the lowest they are probably going to go Theyre ac counting for over 50 per cent of all sales this year he adds The indicators we watch sug gest the current consumer mood will last at least for another month or so Vogt says and points to some encouraging signs the number who can afford to buy a home is up from 6 per cent to per cent the ratio of homes for sale to buyers is returning to normal levels and there are reports of multiple of fers on good properties But eight or ten weeks of good housing sales doesnt spell a full recovery says Vogt Were still facing a soft economy and high unemployment For the housing market to continue to recover interest rates must fall even further The housing market softened in the Spring of 1989 preceding the economic downturn and it ap pears it may lead the recovery Traditionally increasing housing sales are a leading indicator of a general economic recovery Just how much is recovery and how much a natural resurgence in Spring is hard to tell at this point but in general terms it is a good time to get into the housing market comments Vogt According to the Royal LePage Survey of Canadian House Prices housing values remain 15 per cent to per cent lower than they were a year ago The in creased demand has stopped the erosion of prices soys but it will take some time before they start to climb again The Royal LePage Survey of Canadian House Prices is the largest comprehensive study of its kind in Canada with information on seven types of housing in over neighborhoods from coast to coast The Survey includes historical data back to the late 1970s Housing values in the Royal Survey represent the estimated current value of typical homes and are compared with figures reported three mon ths ago and a year ago The prices cited are Royal LePage opinions of fair market value in each location based on data and market knowledge provided by Royal residential real estate specialists Royal LePage is Canadas leading fullservice realtor with close to 11000 employees in residential commercial and associate broker offices in Canada the United States and overseas BOUCHER ALUMINUM NAME BRAND ALUMINUM SIDING ft Sunteu Eavtitreugb A ai CI FREE ESTIMATES- 8778830 WESTERN GENERAL CONTRACTORS Quality Built Custom Homos ALL PHASES of Contracting In MAMirffOOrsrSTU 8332075 AIRWAYS VACUUM SERVICE 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