18 Jul 2012

Canadian housing market appears to be cooling a bit

According to a recent report from the Canadian Real Estate Association, home sales in Canada are on their way down, while home prices continue to increase.

Although home sales may be decreasing, Toronto public storage is still coveted by many homeowners who need extra room to keep some of their belongings.

The statistics show Canadian home sales decreased 1.3 percent from May to June, which is the first annual decline since April 2011. Falling home sales numbers are welcomed with open arms by Canadian real estate agents, especially in Toronto, Reuters reported.

“Reports of the demise of price increases in Canadian housing have been greatly exaggerated, at least up to this point,” said Doug Porter, deputy chief economist of BMO Capital Markets. “What hasn’t been exaggerated are softer sales; the June swoon compares with an average 7 percent year-over-year rise in the first five months of 2012."

According to Reuters, bidding wars over homes in Toronto have caused near skirmishes in the past, and the decreases in home sales may allow the housing market to settle back to regular levels.

In a normal housing market, Canadians are able to move without fear their house with lose value. With access to self storage facilities, it makes it much easier for people to move from home to home.

Jiffy Self Storage, a leader in Toronto storage solutions, is currently running a contest on their website for a free iPad 3. Visitors to the site simply need to match a few Canadian landmarks and they'll be entered to win the iPad or one of several other prizes.

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