Balance returns to recreational property markets across Canada this year, says RE/MAX

Mississauga, ON (June 10, 2008) - After an extended period of extraordinary growth, more balanced market conditions have emerged in recreational property markets across the country, according to a report released today by RE/MAX.

The RE/MAX Recreational Property Report found that a substantial increase in the supply of recreational properties listed for sale, combined with fewer buyers overall, characterized most recreational markets this year. Of the 45 markets surveyed, 91 per cent (or 41 markets) were in the transition stage, moving from strong sellers into balanced market conditions. The only exceptions were Salt Spring Island, two markets in Saskatchewan - Last Mountain Lake and Qu'Appelle Lakes and Lakes Candle, Emma, and Waskesiu -- and Newfoundland's East Coast - where inventory levels were relatively low. Affordability was a primary factor in 35 per cent of markets surveyed, given serious upward pressure on recreational values in recent years.