Property sales in Canada stable and prices set to rise

by Ray Clancy on June 18, 2013

Property sales in Canada stable and prices set to rise

Property sales in Canada stable and prices set to rise

Job market trends and low interest rates are supporting the housing sector in Canada with sales remaining stable and prices predicted to rise this year and next. The latest data from the Canadian Real Estate Association (CREA) shows that residential property sales increased by 3.6% last month – prices are also rising, up 3.7% year on year.

The CREA report says that national sales activity has held fairly stable since it moderated last August in the wake of changes to mortgage lending rules and guidelines. Although sales in the first quarter of 2013 remained virtually on par with those in the fourth quarter of 2012, the monthly sales trend improved toward the end of the first quarter and accelerated in the second quarter. [click to continue…]

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