24 March 2011
24 March 2011
Falling real estate market activity limits the price growth
| According to the Conference Board of Canada, in February there was a certain decline in existing home sales in 23 of 28 areas as compared to the previous year. In addition to it, the report said the tightened mortgage rules (in effect since March 18) turned out to be not enough to increase the activity. “It’s obvious that falling sales discouraged potential sellers,” – said the report. |
Moreover, in
15 markets the listings were even below January levels.The report also showed that prices have increased on a year-over-year basis in 24 of the 28 areas. But in the same time, falling activity limited the price growth in 16 markets in February.
Meanwhile, 25 of 28 markets in Canada still remained in a quite balanced state.