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Canadian housing market ‘defying gravity and logic’ with 17.4 pct decline in sales in December

Posted on 16 January 2013

So far it’s looking like a soft landing for Canada’s housing market, analysts, economists and realtors generally agree, despite the fact home sales were down 17.4 per cent in December over a year earlier, according to figures released Tuesday by the Canadian Real Estate Association.
With prices up an average 1.6 per cent across Canada in December year over year — six per cent in Toronto — housing experts are looking to the spring market, the busiest time of year for home sales, as the best barometer of where the housing market is ultimately headed. So far it is “defying gravity and logic,” says Queen’s University real estate expert John Andrew……………………………………….Full Article: Source


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