Canadian Real Estate News for the first half of 2008

Not surprisingly, the latest findings for the Multiple Listing Service® residential listings show new levels were reached during the first half of 2008.

Canada's major markets for new listings for sale on the MLS reached record levels so far this year, with more new properties being listed during April, May and June, than any other month on record.

On July 15th The Bank of Canada held its benchmark overnight lending rate steady at three per cent. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, remains at 3.25 per cent.

Cal Lindbert, President of the Canadian Real Estate Association says: "Over the long haul what's good for consumers is a strong, stable and balanced market. Buyers get to take time to assess their options, and sellers must find the right marketing plan for their property. A REALTOR® provides the expertise to help both buyers and sellers with those issues."