Media Advisory/Interview Opportunity-Canadian Housing Outlook for 2013: BMO Hosts Conference Call
BMO unveils outlook for housing sales, prices and expectations among Canadian home and condo owners - Results from poll showing how many Canadians intend to buy a property in the next five years - Experts from BMO, RE/MAX and the Canadian Home Builders' Association provide insights into real estate trends and examine which cities will be the next hot spots
TORONTO, ONTARIO--(Marketwire - Jan. 7, 2013) - Canada's housing market has undergone a major shift since the beginning of last year. Sales are down in some of Canada's major markets - Toronto and Vancouver are off double digits compared to a year ago, while even Calgary has simmered down after a year that saw a double-digit rise in sales.
Stricter mortgage lending guidelines, including a reduced maximum amortization period and a purchase price ceiling of $1 million dollars for government insured mortgages, have prompted some potential buyers to move to the sidelines.
Meanwhile, real estate prices - with the exception of some areas in Vancouver - are holding steady, supported by low interest rates. Since 2000, the price of houses across Canada has more than doubled on average.
Experts from BMO, RE/MAX and the Canadian Home Builders' Association will participate in a conference call to discuss the real estate environment in Canada, and what prospective buyers and sellers need to keep in mind. Panellists will discuss the following topics:
- What is in store for the Canadian housing market over the coming year?
- What is different from last year for Canadian homeowners looking to buy or sell their home?
- What key trends are emerging in Canadian real estate, including in Toronto's high-end property market?
- The financial ins-and-outs of purchasing a home, including the importance of home inspections and pre-approvals.
|What:||BMO, RE/MAX, the Canadian Home Builders' Association discuss the Canadian Housing Market|
|Who:||Sal Guatieri, Senior Economist, BMO Capital Markets|
|Conrad Zurini, Broker of Record, RE/MAX Escarpment Reality Inc.|
|John Turner, National Director, Specialized Lending, BMO Bank of Montreal|
|Charron Ungar, President Canadian Home Builders' Association - Calgary Region|
|When:||Tuesday, January 8, 2013; 11:00 a.m. - 11:30 a.m. ET|
Media Dial-in: 416-641-2144 / 1-866-696-5910
Participant Passcode: 8636439
Passcode: To confirm your attendance of if you have any questions, please contact BMO Media Relations at (416) 867-3996.
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