MODERATE DECLINE FORECAST FOR REMAINDER OF 2010

Royal Lepage survey indicate that the second half of 2010 will see "average" house prices decline slightly.

Properties will be on the market longer before seeing a suitable offer, and mutiple offers will be rare. This is a natural correection after a heated Winter market. An increase in supply of homes means more price stability and more choices for consumers. 

The number of unit sales will also decrease in the second half of 2010.

This is welcome relief for home buyers that were frustrated with the casino frenzy, and can now return to shopping, planning and thinking about their purchase. Sellers and Buyers can return to negotiating on the property deal at a more sensible pace.