Canadalend.com, The Nation’s Leading Private Mortgage Professionals, Weighs In On Canada’s
August Home Sales, Notes Data Is Skewed By 3 Cities
The fact of the matter is, for the majority of Canadians, the
housing market looks cooler than the numbers...
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Canadalend.com, The Nation’s Leading Private Mortgage Professionals, Weighs In On Canada’s
August Home Sales, Notes Data Is Skewed By 3 Cities
The fact of the matter is, for the majority of Canadians, the
housing market looks cooler than the numbers suggest. Aggarwal notes that the strong price
growth is being driven by Toronto, Calgary, and Vancouver. Single-family homes in Calgary are up
more than 10% year-over-year, while the average house prices in Toronto, including
condominiums, are up 8.9%. Vancouver housing prices experienced the most modest growth at
five percent. Outside of these three cities, Aggarwal explains, research shows that many markets
in Canada are cooling. In fact, half of Canadas 22 largest markets are showing signs of slowing
down. Homes in Ottawa are down 1.1% and homes in Kingston are down about two percent.
Other markets where prices have fallen include Annapolis Valley, Nova Scotia; Moncton, New
Brunswick; Owen Sound, Ontario; Brandon, Manitoba; and Regina, S
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