In spite of a more precarious economic situation, sales of properties in the Greater Montreal area continue to stay the course and in August of 2009 one has noticed no sign of deceleration, by taking note of the data of the MLS system. According to the Greater Montreal Real-Estate Chamber (GMREC) the number of transactions has increased by 9% in August of 2009 comparatively with the same period last year. The median price of a one-family house has even increased by 6% if the same periods are compared.
Michel Beauséjour, the CEO of the GMREC declared: “Sales of residential properties generating important economic repercussions, the increases recorded for the last four months have at the same time come to stimulate the economy of the metropolitan region of Montreal”.
In August of 2009, 1.674 one-family houses have been agreed upon, an increase of 5% compared to August 2008. Sales of joint-ownerships increased by 15% whereas sales of plexes have known the most marked progression with a rise of 17%.
It is mentioned that the Montreal resale market goes very well thanks always to the low interest rates, and a to a labour market which improves and the consumers have more and more confidence.