RE/MAX report finds Canada's real-estate market poised for robust spring and summer

RE/MAX report finds Canada's real-estate market poised for robust spring and 
summer 
RE/MAX Spring Market Trends Report 2014 finds increased activity in local 
housing markets across Western Canada as winter fades and temperatures rise 
KELOWNA, BC, April 15, 2014 /CNW/ - Today RE/MAX released its Spring Market 
Trends Report, showcasing key housing market trends in 24 residential real 
estate markets across Canada. 
An unusually harsh winter delayed the start of the spring real estate season 
in many Canadian markets east of British Columbia, while low inventory was a 
key theme in major urban centres across the county, leading to significant 
price increases in markets where supply struggled to keep pace with demand. 
Natural resources, manufacturing and major infrastructure projects continue to 
drive economic confidence, creating a strong foundation for residential real 
estate growth from coast to coast through the rest of the year. 
The full RE/MAX Spring Market Trends Report, with market activity summaries 
for 24 regions across the country, is available here: http://rem.ax/1kXvf7I 
Western Canada and the Prairies 
There was robust market activity across much of Western Canada during the 
first quarter of 2014. In what was a tale of two winters, Vancouver and 
Victoria saw year-over-year price gains during an unusually mild January and 
February. At the same time, below average temperatures in cities such as 
Edmonton, Calgary and Saskatoon were not enough to cool local market sales, 
where house prices also continued to climb. And while Winnipeg and Regina did 
experience market slowdowns, both regions show signs of increased activity as 
warmer temperatures motivate both buyers and sellers to enter the market. 
"Western Canada is poised for strong housing market activity during the 
all-important spring and summer sales season," said Elton Ash, Regional 
Executive Vice President, RE/MAX of Western Canada. "With Winnipeg's healthy 
agricultural and manufacturing sectors, sturdy job markets in Regina, 
Saskatoon and across Alberta, as well as the cultural and economic draw of 
Victoria and the Greater Vancouver Area, our RE/MAX agents across the West 
expect to be busy in the months ahead." 
At the end of March, Vancouver's market had posted a 5.4 per cent 
year-over-year average price increase, but with the cost of a typical single 
family house reaching $1.36 million, many younger buyers have found themselves 
priced out of the market. This low affordability has prompted some innovative 
solutions, with 400-square-foot studios now selling in the $150,000 price 
range, offering first time buyers a toe-hold into the market. These 
entry-level condos have even led to the development of entire new lines of 
multipurpose furniture designed specifically for efficient spaces. 
Many potential homebuyers in Alberta have been be frustrated by low inventory. 
This is particularly true in Calgary where a typical home spent less than 35 
days on the market. Those looking to rent while waiting for the Calgary 
housing market to balance out have also struggled with a rental vacancy rate 
of one per cent. Desirable rental properties in Calgary's core are now 
attracting multiple offers, creating additional frustrations for those waiting 
to buy. 
Across the Prairies, Saskatchewan showed strong housing market activity 
throughout the first quarter. At an average price of $354,084, year-over-year 
housing prices were up five per cent in Saskatoon as of the end of March. 
Regina also posted gains, where the average sale price in the city rose 4.8 
per cent to $328,781 over the same period. In Winnipeg arctic temperatures and 
put a chill on the market with sales down over the first two months of the 
year. However, after a dozen years of as a seller's market, Winnipeg is 
expected to be more balanced in 2014 as new buyers are to drive sales of 
condos and detached homes. 
Ontario and Eastern Canada 
Despite record-setting low temperatures this winter, housing market activity 
in Ontario and Eastern Canada picked up in March and showed year-over-year 
resilience in most regions during the first quarter of 2014. In urban centres 
around the Golden Horseshoe, house prices continued to post gains while 
inventory struggled to keep pace with demand. Across Eastern Canada, price 
increases were also seen in regions with strong local economies driven by the 
resource sector and major infrastructure development. 
"The unusually cold winter led to a slow start in early 2014, but Ontario and 
Atlantic Canada are now seeing significant housing market activity and are 
poised for robust spring and summer seasons," said Gurinder Sandhu, Executive 
Vice President, Regional Director & Chief Financial Officer RE/MAX INTEGRA 
Ontario-Atlantic Canada Division. "We expect an extended spring market this 
year as sellers who waited for warmer temperatures are now listing their 
properties in greater numbers, which will help meet the pent up demand of 
those who have been looking to buy since early 2014." 
Potential homebuyers in the Greater Toronto Area, Hamilton and Burlington 
continue to face low inventory and increasing prices. In Toronto the average 
residential sale prices jumped almost 8 per cent year-over-year in March, as 
the city saw inventory continue to decline. As of the end of March the average 
price for a detached home in the GTA was $718,400, while the average condo was 
a more affordable $347,200. 
Similar to the situation in Calgary, Toronto is also experiencing low rental 
vacancies, adding to frustrations of those debating whether to buy or rent. 
With a vacancy rate below two per cent, desirable rental properties in the 
city's downtown core are now attracting multiple offers. 
From Ottawa and Kingston to London and Windsor, the harsh winter slowed 
year-over year real estate activity in January and February across much of 
Ontario. In Windsor, which suffered heaviest snowfall since 1908, first 
quarter unit sales declined 15 per cent year-over-year. However, this trend is 
now reversing itself; March showed strong signs of recovery as unit sales were 
down just one per cent compared to the previous year. This trend played out 
across the province, as increased sales in March made up for sluggish activity 
seen in January and February. 
The harsh winter conditions also delayed early 2014 activity across some 
markets in Atlantic Canada. In St. John's, despite strong consumer confidence 
and a growing local economy, real estate sales decreased 9 per cent 
year-over-year in February. Activity picked up in March, and by the end of the 
month average year-over-year prices had increased by 5 per cent to $308,851. 
Looking at the year ahead, a number of factors are expected to contribute to 
strong markets across the region. Halifax looks set for a 2014 recovery driven 
by the local shipbuilding industry and an influx of young people attracted to 
the urban lifestyle and affordability of small suites in the city's core. In 
Newfoundland, natural resources and capital spending projects should continue 
to fuel the region's economy and housing market. Foreign buyers in PEI, 
particularly those from Asia, are expected to fuel sales in the upper-end of 
the island's real estate. Finally, in New Brunswick, Saint John buyers 
continue to wait on announcements about pipeline and oil refinery developments 
that could have a transformative impact on their market. 
About the RE/MAX Network 
RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, 
entrepreneurial culture affording its agents and franchisees the flexibility 
to operate their businesses with great independence. Over 93,000 agents 
provide RE/MAX a global reach -- operating in more than 95 countries. RE/MAX 
is Canada's leading real estate organization with more than 19,000 Sales 
Associates and over 750 independently-owned and operated offices nationwide. 
RE/MAX, LLC, one of the world's leading franchisors of real estate brokerage 
services, is a subsidiary of RE/MAX Holdings, Inc. (NYSE:RMAX). For more 
information about RE/MAX, to search home listings and/or find an agent in your 
community, please visit www.remax.ca. 
About Integra Enterprises and RE/MAX Ontario-Atlantic Canada 
RE/MAX INTEGRA is privately owned by Canadian entrepreneurs and represents 
nearly a third of all RE/MAX agents worldwide. The Ontario-Atlantic Canada 
region is driving towards 10,000 quality agents.  The US regions--New England 
and the Mid West (which is made up of Minnesota, Wisconsin and 
Indiana)--account for over 6,000 agents, and Europe and the Middle East 
account for more than 12,000 agents. 
Forward Looking Statements 
This report includes "forward looking statements" within the meaning of the 
"safe harbor" provisions of the United States Private Securities Litigation 
Reform Act of 1995. Forward-looking statements may be identified by the use of 
words such as "anticipate", "believe", "intend", "expect", "estimate", "plan", 
"outlook", "poised," "should" and "project" and other similar words and 
expressions that predict or indicate future events or trends or that are not 
statements of historical matters. Forward looking statements should not be 
read as a guarantee of future performance or results, and will not necessarily 
be accurate indications of the times at, or by, which such performance or 
results will be achieved. Forward looking statements are based on information 
available at the time those statements are made and/or management's good faith 
belief as of that time with respect to future events, and are subject to risks 
and uncertainties that could cause actual performance or results to differ 
materially from those expressed in or suggested by the forward looking 
statements. Such risks include, without limitation, those described in the 
sections "Risk Factors" and "Management's Discussion and Analysis of Financial 
Condition and Results of Operation in RE/MAX Holdings Inc.'s registration 
statement on Form S-1 filed with the United States Securities and Exchange 
Commission ("SEC") and (1) changes in business and economic activity in 
general, (2) changes in the real estate market, including changes due to 
interest rates and availability of financing, and (3) changes in laws and 
regulations that may affect our business or the real estate market. Readers 
are cautioned not to place undue reliance on forward-looking statements, which 
speak only as of the date on which they are made. Except as required by law, 
RE/MAX Holdings Inc. does not intend, and undertakes no duty, to update this 
information to reflect future events or circumstances. Investors are referred 
to in RE/MAX Holding Inc.'s registration statement on Form S-1 and subsequent 
reports filed with the SEC. 
Data Source:  Historical data is sourced from Local Real Estate Boards. 
Estimates and forecasts are based on the opinion of independent RE/MAX 
broker/owners and affiliates.
 

SOURCE  RE/MAX of Western Canada 
Elaine Langhout, RE/MAX of Western Canada, 250-860-3628; Sarah Louise 
Gardiner, FleishmanHillard, sarah.gardiner@fleishman.ca, 416-333-0938 
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CO: RE/MAX of Western Canada
ST: British Columbia
NI: REL ECOSURV  
-0- Apr/15/2014 11:00 GMT
 
 
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