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The Canadian Champion, Friday, September 12, 2008 -A9 Locl husiq mrke slwinj dwn Te Mon Farmn J Locreale ropsn ma-abuhrk200 subivsising thcwes n iesad juy om sle dopbyabuta tidovei' 200rmsubdi wsdonsnt he endughe bous- es ornl the peolae Isou aotst tîvew By Melanie Hennessey CANADIAN CHAMPION STAFF Canada's fastest growing communily is seeing a slight slow down in the housing market, according to figures [rom the Building lndustry and Land Development Association (BILD). The BILO reports new homes sales in Halton felI [rom 331 in July 2007 to 213 in July 2008 - a 3 5 per cent drop. Overaîl, the GTA saw a 60 per cent decline in new homes sales in July At press ime, statîstics weren'l avail- able [or August. OfficiaIs [rom tise town's largesi builder, Maitamy Honmes, conirmed sales are down across the GTA , înclud- ing Milton. Numbers [rom Mattamy show thai by the end o[ the year, sales in the CIA are expected to have dropped by more than 3,000 homes, going [romn 21,500 in 2007 to a projecied 18,200 in 2008. 1'i qîîieter across the huard. We're having to work a lîttlc harder tu get sales," saîd Mattamy Homes Halton division president Mark Pacsons. Market still hooming But even if sales arc slower, the com- pany still expects Milton to [are well and is prujecting a total of 1,625 homes sales in town for 2008, which it says is up [rom 1,180 lasi year. "Peuple are still motivated to buy and we're stîll doing [airly well. The slow dlown in Milton is not as dramatic as the rest of the CIA,' said Parsons. He s.aid buyers are being a litile mure cautîous these days because "they're lookîng at the economy south of the border and wondering if ils going to head that way" He said Milton's location and the quality of housing products being of[ered continues tu make it a spot that peuple want tu buv in. Resale lîousing market slowed: huard The local resale bousing market is also seeîng a bit of a sales decline, according lu the Oakville, Milton and District Real Estate Board. But board presîdent Peter Tulloch said ils noîhing tu be worried about. "Its a sign the market is becoming healthier," hie said. "if demand drops and supply increases, it becomes more balanced. Buyers now have a better selection, and they're not caught up in multiple offer situations." Nunsbers on the board's website show home sales in Milton have been up and down throughout the vear. For example, sales felu by 20 per cent in January compared tojanuary 2007, but climbed by eight per cent in July. The huard also reported that the average sale price of a home in Milton declined slighîly in July, going from $332,827 last July to $325.917 this year. lt attînhutes tihe drop lu moderate economic growth and increased choir- es in the resale market. Re/Max Real Estate Centre broker Aune Taylor said while she has also seen the slow down locally, the Milton market is still active. She said theres a huge amount of local bousing inventory right now "People are moving [rom the exist- ing housing stock in Milton to the new here." Prudential Town Centre Realty Inc. broker Domenic Manchisi said the large number of listings nseans some homes are taking longer to selI, since buyers have more to choose [rom. Overaîl though, hie said hie feels the Milton real estate market is still a strong one. "Real estate investment remains as one of the best învestments in the world," hie said. "There are not many things that create wealth like property ownership." Melanie Hcnriessc-y ran bc i-cached ai mhenisscy@uviýiltorcanadianchampioi rom. rown CiOver 120 juried crai people in the Great Gambrel Darn, the Aberfoyle Town Hall and Individual ExhibitorTlents I * Fandmade quality StulyWSma m*Superior workmanship 9 *.4 '. I*Great gift ideas I*Country decorating at it's best Ai~$0 *Live entertainment ciie ne 2FE S*Beautiful Fail location hrqFiE 1 1 Food available t I COUNTRY HERITAGE PARK 8560 Tremaine Road, Milton, ON' Cali 905o878o8151 î r! Steeles West ta Tremaine Rd., FoIIaW Signs ~I 1 laii O iL 1 j ý 1 -j ,Lj 1 - -0- 110M VOUR SnIIcefrUd~rsald~cks TRADEIMa VALUE &ad Credit* Self Employed* New to the country? NO PROBLEM mm.WOsmrto-J Aaiiaai,piwedsks, 20012CHEVROLET Piswnisli~ 2005F0RD spoi.er, ini1il,4Wm 6VAUER au,C,m3»ms FOtCUS ZX5 MA1,7h ---- 1iL -~~ il- Lim TOWN CAR ~"'SIGNATURELM ss wwwhalo mdwtesre.o 1 ýeA, ý4o7' "The business that considers itself immune to the necessity for advertising sooner or later finds ilseif immune to business." DerbvyB EBIa iT lýý e.-I H«Wl! ' FORD EDGE S&AM V 6, A ^ Nv ýcrî il / ý"2W4