The summer real estate market of 2012 in Thornhill and the GTA has been brisk! We have still been experiencing multiple offers in most price ranges in all areas of the city. Newspapers have been predicting a negative future for the GTA (and Canadian) real estate market; home buyers are smiling from ear to ear! The newspapers have been reporting a noticeable drop in sales in the Canadian real estate market. However, they failed to acknowledge the equal drop in available homes in the summer months giving buyers less to choose from. If fewer homes were selling that means prices should be dropping as well, right? Nope. The average prices in most area of the Thornhill, the GTA and Canada have remained quite stable over the summer.; with the exception of Vancouver which has seen dropping house prices since the beginning of the year (2012) due to the highest jumps in prices recorded in Canada- even higher than Toronto! So, what should we expect to see happen next?? An inevitable increase in available homes for sale (Fall market) will put the housing market to the test. Will there be more than enough buyers to offset the added inventory? I believe, and am supported by my colleagues, that there will be enough demand to meet the coming increases in housing inventory. Why do I feel this way? Two major factors: low interest rates and healthy employment figures. Now is the best time in (most people’s) history to buy a home! Carrying costs make selling prices manageable for a large percentage of the buying public. Many families must has strong dual incomes to make it work, but they do! Overall, in this Realtor’s opinion, unless we see a major world event that has far reaching economic powers the housing market should continue to be strong, however, the gains, if any, will be far more modest than in the past.