Current Market Outlook

Hello,
On June 26 2008 we recieved this update on the Canadian Housing Market from TD Bank.

• The long awaited end of the Canadian housing
boom has occurred, reflecting more moderate
demand and increased supply of properties
for sale

• Most of Canada’s major housing markets have
moved out of seller’s territory to more balanced
markets

• TD Economics forecasts modest national average
price growth of 2.0% this year and 3.5%
next year, down substantially from the 10%
annual pace of the last six years

• Sales are significantly lower than in the banner
year that was 2007, but they are returning
to 2004-06 levels, held up by solid economic
and financial fundamentals

• Past erosions in affordability are the main factor
behind weaker sales, but affordability is now
set to improve

• Additional supply of homes for sale is booming
out west and new listings must be absorbed
at more conservative prices before demand
can lift prices again. After a pullback over the
next 12 months, Alberta’s major markets will
stabilize and post mild prices gains thereafter

• Saskatchewan is bucking the national cooling
trend, but price growth will come back down
to earth next year

Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team