November 15, 2010
Growth in the Strong 3rd Quarter
Did you know Canada’s residential real estate market saw year-over-year growth of 5% in the 3rd quarter? According to the Royal LePage House Price Survey (Oct. 19), price appreciation of 5% is historically typical of balanced real estate markets. “The third quarter was slightly stronger than anticipated, on new demand fuelled by improved affordability in many regions,” said Phil Soper, CEO of Royal LePage. “House price growth now sits just below the long term annual average of about 5%, but once this is adjusted for inflation, which is very low and expected to continue to be that way for some time, appreciation is right on track. Canadian homeowners will be pleased,” said Soper.
