In July 2009, Orangeville reported a record 82 sales, up 100 per cent from July 2008 (41 sales reported) and the highest number of sales since January 2005! All
areas recorded higher July ’09 sales than July 08. Caledon sales were
up 29% (84 July 2009 vs 65 July 2008); Dufferin sales were up 21% (40
vs 33); Erin sales were marginally up 5% (39 vs 37). A remarkable
recovery (particularly for Orangeville, Caledon and Dufferin) and unusual for July as typically sales slow in the summer months.
Perhaps, some of the factors that have contributed to this phenomenon are:
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More families holidaying from home and having a look/see at real estate;
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Unseasonably wet, cool weather – what better time to house hunt;
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Likely the lowest interest we will see in the foreseeable future;
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Renewed confidence in the economy;
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Release of pent up demand for those who have been sitting on the sidelines; and
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Re-emergence of the move up buyer into the market. The move-up buyer creates a more stable market as for each sale/purchase, there are further sales/purchases.
I hope you find this useful
David
