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Canada: CREA report to ramp up housing anxiety

Posted on 11 March 2013

Many observers believe Canada’s housing market is headed for a soft landing, but expect Friday’s sales numbers to raise the worry meter regardless. The market has been cooling markedly in the wake of new mortgage restrictions last summer, and a report expected Friday from the Canadian Real Estate Association will drive that point home.
“The Canadian housing market is undeniably cooling; the only question is whether it will come in for a soft or hard landing,” said senior economist Benjamin Reitzes of BMO Nesbitt Burns Inc. “We expect sales to remain weak through the rest of this year and prices to fall only modestly, putting us squarely in the soft landing camp.”……………………………………….Full Article: Source


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