Economic indicator?
Posted Jun 18, 2012 3:38 pm.
This article is more than 5 years old.
Remax reports sales of recreational properties across the country are on the rise in most markets.
Company spokesman Elton Ash tells 660News there are two things driving the increased buying, starting with a rise in consumer confidence.
“Strong consumer confidence,” says Ash. “The market, although softer than in past years, is remaining relatively strong with positive demand.”
He says another factor pushing up demand is a retreat in prices. A few years ago, it cost buyers a million dollars to buy a home in Sylvan Lake near Red Deer. Now you can get into the same market for $750,000.
Consumer tastes have also changed.
“What we’re seeing with young families is that they’re looking for more wilderness type of property,” adds Ash. “Something that’s perhaps not right on the water, maybe a lane or two back, seasonal lot type of stuff.”
Recreational property sales are up in 70 per cent of the 33 markets Remax tracks.
Canadians are not only buying rec properties in this country, but south of the border as well — especially in the sunbelt states.
