Yearly Archives: 2012

Housing correction underway in Canada, ‘soft landing’ likely: bankers

Canada’s housing correction “appears to be underway,” Toronto-Dominion Bank’s chief economist said Tuesday, one day after data showed national home sales plummeted in August. Craig Alexander and a team of economists said a combination of market fatigue, stricter mortgage lending and a deterioration in housing affordability are behind a slowdown in Canadian home sales. The […]

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Canadian home sales down in August

Ottawa, ON, September 17, 2012 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity dropped sharply from July to August 2012. Highlights: Home sales down 5.8% from July to August. Actual (not seasonally adjusted) activity stood 8.9% below levels in August 2011. Number of newly listed homes […]

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Toronto housing market softening

Canada’s three largest housing markets have undergone “considerable softening” just since May, largely thanks to the condo boom, according to the Teranet-National Bank House Price Index for July. Toronto resale home prices are still gaining ground, but at less than half the 9.2 per cent year over year gain they racked up in July, says […]

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Condo prices set to rise in 2013 as demand continues to grow

A new condo report suggests first-time buyers, retirees and population growth will continue to fuel demand and price growth for the compact living spaces over the next few years. The study by Genworth Canada found that average condo resale prices are expected to rise next year in seven of the eight metropolitan centres studied. Prices […]

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