Change in the wind?
Canadian home prices have started falling, marking the first decline in almost a decade, according to the Canadian Real Estate Association.
The Ottawa-based group said yesterday that the average sale price in the country's top 25 markets in June was $341,096. That's actually down from a year ago when the average sale price was $342,615. It's the first decline since January, 1999.
"The frenzied pace of sale activity last year has faded, with buyers now better able to shop around before making an offer," said Gregory Klump, chief economist with CREA. "Price increase are expected to be modest in the second half of 2008, as sales continue easing and new listings remain high."
Financial Post - Canadian Housing Prices Drop.
The Ottawa-based group said yesterday that the average sale price in the country's top 25 markets in June was $341,096. That's actually down from a year ago when the average sale price was $342,615. It's the first decline since January, 1999.
"The frenzied pace of sale activity last year has faded, with buyers now better able to shop around before making an offer," said Gregory Klump, chief economist with CREA. "Price increase are expected to be modest in the second half of 2008, as sales continue easing and new listings remain high."
Financial Post - Canadian Housing Prices Drop.
Comments
http://www.realtor.ca
It let you zoom in on area on a map and you can the proprties for sale in a given area. So if you are looking, say, in Willoughby, just zoom in there on the map and get an ariel view of the properties for sale in the area. Very cool!
......good to see great utilization of on-line functionality for those interested in Real Estate information.
It is a new service paid for by the Realtors across Canada.