Canada’s Real Estate Market Stays Strong

Posted in Real Insights | August 8, 2007

Did you know that Canada’s resale housing market finished the second quarter on strong footing?
Commenting on the release of the Royal LePage second quarter report, CEO Phil Soper said, “The momentum from the year’s extraordinary start spilled into the second quarter, compounding typically busy spring market activity and stimulating solid price appreciation in almost all regions of the country. These conditions will certainly be an impetus characterizing Canada’s real estate market through to year’s end.”
Looking ahead to the end of the year, the Ontario housing market is expected to continue to enjoy strong, yet slightly slower activity, accompanied by modest rates of price appreciation. Royal LePage forecasts the national average house price to rise by 9.5% for the year, passing the $300,000 mark for the first time.