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Canada's Housing Market is the Rabbit that Keeps on going & going ...

House Price Trends:   The trend in national new and existing home prices, while off the highs of last spring, is still averaging about 10 per cent year over year.

Andrienne Warren of Scotiabank commented that Canada's housing marketing is that rabbit that keeps on going and going.   A Scotia report says significant regaional performance disparities will persits, with the western provinces expected to lead again in average house price increases and construction in 2007.

Despite the western-biased growth, Warran reports that virtually all of Canada's major urban markets are currently reporting year-over-year price increases.

A number of cities are enjoying strong population and employment growth which support strong housing price gains.    For example, Toronto is the overwhelming destination for immigrants to Canada.

Some softening in overall Canadian housing activity appears inevitable.   The report predicts a drop in house sales and starts this year and national price increases in mid single digits.

Posted: Thursday, March 29, 2007 11:56 PM by Sutton Realty

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