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Canada: Soft landing for housing (with ‘rather obvious exception of Vancouver’)

Posted on 18 December 2012

Economists still see a soft landing for Canadian real estate as the market continues to cool. Sales plunged 11.9 per cent in November from a year earlier, slipping 1.7 per cent from October. Those numbers, released today by the Canadian Real Estate Association, prompted the group to cut its sales forecast for this year and next.
While prices are still relatively firm compared to sales, CREA said the national average slipped 0.8 per cent in November from a year earlier. The MLS home price index, which factors in changes in the types of homes sold, rose 3.5 per cent, though that’s the weakest increase since May of 2011……………………………………..Full Article: Source


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