Canada’s housing market stronger than forecast
The Canadian Real Estate Association said Friday that the national home price and sales activity this year will be higher than previously forecast, following a strong spring.
It now forecasts 475,800 homes will be sold in 2012, up 3.8% from 2011, compared with earlier expectations of a gain of 0.3%.
The average home price is forecast to rise by 2.2% to $370,700 in 2012 compared with an earlier expectation that it would fall 1.1%.
“National activity over spring months was stronger than anticipated,” CREA president Wayne Moen said in a statement.
“This shows clearly how the continuation of low interest rates is keeping homeownership affordable and within reach.”
The Canadian Real Estate Association said Friday that the national home price and sales activity this year will be higher than previously forecast, following a strong spring.
It now forecasts 475,800 homes will be sold in 2012, up 3.8% from 2011, compared with earlier expectations of a gain of 0.3%.
The average home price is forecast to rise by 2.2% to $370,700 in 2012 compared with an earlier expectation that it would fall 1.1%.
“National activity over spring months was stronger than anticipated,” CREA president Wayne Moen said in a statement.
“This shows clearly how the continuation of low interest rates is keeping homeownership affordable and within reach.”
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