House sales seen at year 2000 levels

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House sales seen at year 2000 levels
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! I6 t, G2 E, O3 _By By Garry Marr, Financial PostFebruary 9, 2009 12:01 PM
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) [) D& a% R  q More Images »  Prices are also forecast to fall this year before rebounding slightly in 2010.Photograph by: Ric Ernst/Canwest News Service, Ric Ernst/Canwest News ServiceHousing sales this year are expected to drop back to 2000 levels, according to a new report from the Canadian Real Estate Association.

( S: i, B$ T6 I$ [The Ottawa-based group, which represents 100 boards across the country, issued a new forecast for 2009 on Monday and predicted sales would fall to 360,900. That would be a 16.9% decline from 2008. Sales last year fell 17.1% from 2007.

"We are caught in a cycle where consumer confidence has been eroded because of job losses and consumer confidence is an essential ingredient for housing sales activity," said Calvin Lindberg, president of CREA.

His group is forecasting a rebound by 2010 and forecasts sales to jump to 9.9%, with most of the growth coming in the second half of that year. British Columbia and Alberta are expected to have the strongest rebounds in 2010.

Prices are also forecast to fall this year before rebounding slightly in 2010. CREA said the average price of home sold in Canada will be $279,400 this year, a 8% decline from last year. In 2008, the average sale price in Canada dropped 0.7%.
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; L' a; n3 h5 A2 NThe increase in prices is forecast to be modest next year. CREA says the average sale price of home next year will be $282,400, a 1.1% increase from 2009.
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"Increasingly cautious homebuyers and mortgage lenders mean that active listings will take longer to sell in 2009 compared to previous years," said Gregory Klump, chief ecnomist with CREA. "The national housing market is recalibrating due to weak sales activity."
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贾爱国

I don't think so. the current price is just about the summer of 2006.