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Blog by Mario Felicella - Sutton Group Westcoast Realty

Canada does not have a housing bubble, says CREA chief economist

November 24th, 2014

Rumours of the great Canadian housing bubble are greatly exaggerated, says Greg Klump, chief economist for the Canadian Real Estate Association (CREA).

While Canadian housing prices have increased an average 6.9 per cent so far this year (the highest in a decade), the more accurate housing price index (HPI) has increased 5.2 per cent for the first 10 months of 2014, which is the be ...

Canadian home sales edge higher in October

November 18th, 2014

Sales of existing homes in Canada edged higher in October from September, the Canadian Real Estate Association said on Monday, suggesting the housing market was carrying momentum into the traditionally slower winter months.

The industry group for real estate agents said sales rose 0.7 percent last month from September. Actual sales for October, not seasonally adjusted, were up 7.0 perc ...

Housing price disparity grows between Canada's major city centres

November 10th, 2014
The gap between how quickly home prices are growing in Toronto, Calgary and Vancouver, compared with the rest of the country, is growing.

That’s one of the things that Brookfield RPS found when it crunched some numbers for The Globe and Mail to look at the increasing disparity between those three major cities, which represent one-quarter of Canada’s housing stock, and the remaining pla ...

Vancouver housing prices head towards new record high

November 4th, 2014

Vancouver's hot real estate market won't be cooling off any time soon, says Canada's national housing agency.

Housing prices in the Vancouver region are headed for a record high this year, and signs point to a continuing upward trend in Canada’s most expensive property market, fuelled by steady population growth and economic stability.

The price for detached houses, condos and townh ...