Monday, December 15, 2008

Canadian Financial Markets rough and rocky ride for the past month

It's been a rough and rocky ride for the past month in the financial markets since I wrote you last month. The Canadian and US stock markets are down about 45% The federal bailout of the big 3 automakers is on the table and many are waiting for approval.

On the local real estate front, the market volume of sales is down by about 50% for November and historically December is our slowest month of the year. Thus, what could be ahead for the month of December? Only time will tell!

December Report - Average November price is slightly up compared to previous month price

December 2008 Sales volume down about 50% compared to November 2007

Our prices are soft, sales are down, but our local Mississauga and surrounding area marketplace is still moving along at a fairly good rate. Not time to panic by any means. I've blogged about this if you want to read more

Update on interest rates, Bank Prime rates are holding at 4.00%, read more, Bank Rate

Last months real estate sales figures are extremely soft, as you can see by the headlines below.

Our prices are soft, sales are down, but our local Mississauga and surrounding area marketplace is still moving along at a fairly good rate. Not time to panic by any means. I've blogged about this if you want to read more

Update on interest rates, Bank Prime rates are holding at 4.00%, read more, Bank Rate

Read more about:Homes for Sale

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

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