Canadian Market Doing Fine

  I just got back from the Canadian Business Conference in Vancouver.  I’m sure most of you who watched the recent Olympics on TV will understand why I think Vancouver is one of the most beautiful cities in the world.  It was great to be back there again to talk to hundreds of our Canadian […]

 

I just got back from the Canadian Business Conference in Vancouver.  I’m sure most of you who watched the recent Olympics on TV will understand why I think Vancouver is one of the most beautiful cities in the world.  It was great to be back there again to talk to hundreds of our Canadian colleagues.  

Canada has been enjoying a great real estate market with double-digit appreciation for most of the last five years.  The only exception was a brief downturn at the beginning of last year with the onset of the global economic crisis.  That downturn only lasted a few months (if you blinked, you missed it!), and since then the market has come roaring back with record-breaking prices from the Atlantic to the Pacific.  The average MLS® house price in Canada now sits at just over $335,000, with Vancouver being the nation’s ‘hot spot’, with prices for a single family home downtown approaching a million dollars!

Canadians – and the Canadian news media – are intently interested in American real estate right now.  So much so, that I had a chance to talk about it in two different TV newscasts that aired right across the country.   The big news in Canada last week was the Canadian ‘loonie’ reaching par with the American dollar.    This increase in the buying power of the Canadian dollar, along with U.S. home prices that seem like a relative ‘bargain’, have made American real estate more affordable than most Canadians can ever remember.   Like the U.S., Canada’s demographics are shifting due to the aging ‘baby boomer’ population.  Watch for a heightened interested in American property from Canadian buyers in the months ahead, especially in those sunshine destinations most favored by retiring Canadians.

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  • http://www.colinhartigan.com Colin Hartigan

    Jim; Thanks for coming to Canada it was a blast! And everyone from our office sure enjoyed the chance to spend time with you and we support your efforts to continue to be the great leader in the media that you are! GO COLDWELL BANKER!

  • http://www.realtykings.ca Doug King

    On a personal note, Jim, it’s very nice to know that the head of the company we work for is knowledgeable, personable and very committed to taking us ( to use the Star Trek analogy) boldly, where no-one’s gone before! Thanks!

  • http://www.glenmurrayhomes.com Glen Murray

    Thanks for coming up and enjoying our lovely city. It is nice to know we have a leader who is on track and leading us into the future. A big thanks to Matthew Ferrara as well.

  • concerned

    I have resently worked for your company in an emergency situation preformed work on building to prevent further damage from leakage in colorado area your management team with coldwell jumped with joy on our response time. now that work is complete problem gone want to hagle on price is this common practice for your outstanding company just thought you would like to know whom you represent you seem intellegent

  • http://www.wileyrealestate.on.ca Ellen Wiley

    Once again, it was great to have you at our Canadian Connference and for you to spend as much time as you did. We appreciate your efforts on our behalf and hope you continue your interest in participating with us at the various functions. It's unfortunate that so many miss out on all the benefits of attending!

  • http://www.bistrohawaii.com/ Simon

    Once again, it was great to have you at our Canadian Connference and for you to spend as much time as you did. We appreciate your efforts on our behalf and hope you continue your interest in participating with us at the various functions. It's unfortunate that so many miss out on all the benefits of attending!

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