U.S. Housing Market Shows Steady Improvement while Canadian Market Stabilizes

Many are relieved as the U.S. housing market continues to make substantial gains. We started seeing improvements in late 2012 and by March of 2013 home prices were on a steady incline.

With the Canadian housing market showing a slowdown in the increase of home prices, down to 2.0% annually, the market is still quite stable. The average Canadian house price has doubled since 2001. One would think the stability in the market would come eventually and for those looking to enter as first-time home buyers, the stability is a welcome change.

As the U.S. market continues its recovery, some of the hardest hit regions during the U.S. housing crisis are now listed among the top 10 hottest markets to watch in 2013. From Detroit, MI (ranked at #10) to Phoenix, AZ (ranked at #1), it’s not just the mercury that’s on the rise. Home prices have already jumped with Detroit seeing a 13.1% rise with as much as a 3.1% increase forecasted for the remainder of the year. Where Phoenix has seen a 24.0% increase and another 10.6% projected for the coming months.

As the housing market stabilizes, now’s the time to recognize the innovation in the Real Estate industry that has sustained and nourished growth throughout the turmoil of the housing crisis. Welcome the REtech:50, HousingWire Magazine’s top 50 technology solutions for the Real Estate industry. Among the top 50 ranked by HousingWire is Lone Wolf Real Estate Technologies. Read more about the REtech:50 and the technology firms that are set to shake up the industry, for the better!

Maggie Hall

Maggie Hall

Maggie Hall is the Communications Manager at Lone Wolf Real Estate Technologies. With a background in Public Relations, Maggie has worked in the real estate industry for more than 8 years, including roles with the REALTORS® Association of Edmonton and the REB4 Group.
Maggie Hall

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  • free for all

    oh what a great news dear

  • Craig Walsh

    This article proves that USA economy is improving again and better days are coming for us. Home prices are increasing. Here I have found the data that Detroit seeing a 13.1% rise and Phoenix has seen a 24.0% increase and another 10.6% projected for the coming months. I think it has a bad side. Poor people will not able to buy home and this is only bad thing. USA government should help poor people to purchase home.

  • Snowy

    The content reflects that the USA economy is improving again and good days are coming as home prices are increasing, which will be a positive sign for the investors as well as for Realtor.