Private Sales Expected to Increase in 2007 as Real Estate Agents’ Sales Expected to Drop
The Canadian Real Estate Association has predicted a drop in homesales for 2007
(http://www.crea.ca/public/news_stats/news_releases.htm).
According to CREA, 2007 home sales are forecast to drop by 4.8% across Canada. Specifically, they are forecast to drop 3.6% in Ontario, 2.4% in Quebec, and 5.7% in British Columbia.
In 2006, the CREA forecasts that the number of sold homes by agents will drop in Ontario by 1.1%, drop in BC by 6.4% and grow in Quebec by 0.9%.
On the other hand, homes sold privately on ByTheOwner.com has increased by more than 25% over 2005 sales, and by the end of 2006, ByTheOwner.com’s sales are expected to increase by 30% to 3500 private sales. Specifically by Province, ByTheOwner.com’s sales have increased by 27% in Ontario, and 26% in Quebec.
ByTheOwner.com is forecasting an additional 30% growth in our sold listings in 2007. This follows our growth trend over the past 3 years.
ByTheOwner.com Director
