Anybody would like to comment their view points on the real estate market for summer 2007.

I am planning to sell my house in May 2007 and move into my new house in June 2007.

I am looking for information on when the GTA bubble is going to burst.

Thanks,
Jack109

Bubble? What bubble??

The interest rates are still lower than the historical average mortage rates. There are tonnes of new mortgage products being intoroduced in the market by the banks with the approval of CMHC, economy is chugging along, inflation is under control, unemployment is low and immigration is creating demand for housing. Considering all these factors, and considering that there is not much change in these, it is very unlikely that you will see much change in the housing market in the near future. Yes, you will see a minor change in the resale home prices, but that is more likely market correction.. owing to demand and supply. Currently, there are more listings than buyers...but it has neither become a buyer's market nor staying a sellers market. This is due to the fact that majority of the current listings would never sell even otherwise at the current prices. Good homes are still being snapped up quickly and attract multiple offers.

And for May/Jun2007, I guess it is too early to predict!

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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
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Rajeev,
Thanks for your inputs and I did sell my house and it went off well.
Thanks,
Jack109