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Canadian housing market peers over the edge

Posted on 15 October 2012

Housing markets across Canada – with the exception of Calgary – are continuing to soften, even as the fall sales season kicks off. Figures to be released Monday by the Canadian Real Estate Association are expected to show falling sales in most major cities in September, with Vancouver leading the decline. September’s decrease in sales comes on the heels of a 5.8-per-cent monthly drop from July to August.
The data are being monitored closely by policy makers in Ottawa, who are attempting to steer the market toward a soft landing. To that end, Finance Minister Jim Flaherty tightened mortgage insurance rules in July to slow demand for homes………………………………………..Full Article: Source


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