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Recently Coldwell Banker Peter Benninger Realty held our annual Economic Update in the Coldwell Banker theatre at 508 Riverbend Drive. During the two sessions held on February 4  Paul Ferley, the assistant chief economist of RBC Royal Bank, gave the audience his overview of the economic outlook for 2010.

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According to this recent press release from the KWREB, the real estate market in Kitchener-Waterloo and area is off to a great start with the best January on record for the local real estate board.

KITCHENER-WATERLOO, ON (February 3, 2010) - Sales of residential properties through the MLS® System of the Kitchener-Waterloo Real Estate Board (KWREB) last month represented the best January ever, nudging by the previous record set in 2006. It was also the fifth month in a row that home sales in the region reached a monthly high.

Home sales activity reached 416 residential sales last month, a jump of nearly 64 percent compared to January 2009. Relative to December 2009, sales saw a 16.5 percent gain last month.

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In this recent press release from the Kitchener Waterloo Real Estate Board (KWREB), the board states that the local real estate market is continuing on the strong trend that began in 2009.

K-W Home Sales End Year on Strong Note

KITCHENER-WATERLOO, ON (January 6, 2010) - Another new record for residential sales was set by the Kitchener-Waterloo Real Estate Board (KWREB) in December. MLS® home sales hit 356 units to the end of December, a 60 percent increase from the same month one year ago, and a 15 percent increase from the previous record set in 2006.

The steady climb of residential property sales that began in the second quarter brought the year-to-date total in Kitchener-Waterloo and area to 6,467, a 5.8 percent increase over 2008.

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Here is an interesting article from the MSN.money website. It discusses the authors' ideas about why the Canadian housing market is healthy and how our market compares to the housing market in the U.S.A.

Why is the Canadian Housing Market so Healthy?

By Peter Diekmeyer, Bankrate.com, December 3, 2009

As housing prices continue to rise, Canadians will need to stay grounded to maintain growth.

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The Canada Mortgage and Housing Corporation has released their most recent Rental Market Report for the Kitchener CMA (Census Market Area). This report contains a wealth of information for landlords in the Kitchener-Waterloo area including vacancy rates and average rent increase rates.

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According to this recent article supplied by The Real Estate Investment Network, the Kitchener-Waterloo area is among the best areas to invest in real estate:

"Technology Triangle remains the Number One place to invest in Ontario"

Oct. 2nd - The Real Estate Investment Network's (REINT) release of Top Ontario Investment Towns analyzes the current and future prospects for real estate investment opportunities in Ontario. The 108 page report states that recent market correction provides buying opportunities for home owners and investors; however, only in select regions of the province. It identifies which areas will outperform in the coming decade and finds that the Kitchener Waterloo Cambridge area is the top region in Ontario in which to invest in real estate.

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The 2009 Coldwell Banker Home Price Comparison Index (HPCI) released today found that Vancouver, BC placed tenth on the North American most expensive list at almost 1.3 million dollars CDN, this also tops the 35 Canadian markets studied. PEI was narrowly edged out of the North American top ten most affordable markets.

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CKCO TV is Kitchener Waterloo's local television station. They featured Coldwell Banker Canada's President, John Geha in a news story about housing prices during John's recent visit to Coldwell Banker Peter Benninger Realty.

You can view the video on the CTV website.

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Recently John Geha, the President of Coldwell Banker Canada visited the Coldwell Banker Peter Benninger Realty offices in Kitchener. During that visit John and Peter Benninger were interviewed by the Waterloo Region Record newspaper. In this article John discusses his view that there are hopeful signs that the economy is on the mend:

Consumer confidence fuels housing recovery

September 22, 2009 - BY ROSE SIMONE, RECORD STAFF - KITCHENER - When John Geha, president of Coldwell Banker Canada, was recently booking a trip from Toronto to Calgary, he was told every single flight was oversold. He has also learned that car rental companies are adding cars to their fleets and hotel managers are seeing business travellers coming back.

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