Canadian home prices rose across the country in April, advancing at their fastest pace in 10 months, the Teranet-National Bank composite house price index shows.
Tagged: House Prices
Not a single Canadian city will see house prices fall in 2011, according to a market forecast by Re/Max, as low inventories prop up prices.
Economists were polishing their crystal balls this week and trying to peer into the future to see what next year’s real estate market will be like, with predictions varying widely.
Gregory Klump spends his days studying the housing market as the chief economist for the Canadian Real Estate Association.
House prices well above peak
Steep housing price increases in six of Canada’s hottest real estate markets since 2002 have all the hallmarks of an “accident waiting to happen” if mortgage rates rise too sharply, warns a new report.
What drives Vancouver’s house prices so relentlessly to levels four times higher than Winnipeg’s, and more than half again what Torontonians pay?
It’s simple, says Tsur Somerville of UBC Centre for Urban Economics and Real Estate.
“If you want Winnipeg-level house prices here, all you have to do is tear down the mountains and fill in the ocean.”