Canada’s overheated housing market continues to defy a U.S. style real estate crash, but even the most optimistic of investors are now bracing for pain ahead as prices continuing to rise and demand showing signs of tailing off.
National home sales were little changed on a month-over-month basis in July, according to statistics released on Thursday by The Canadian Real Estate Association (CREA). Inventory figures – another key measure of the balance between supply and demand – were also unchanged after standing above a ten-year average in July for about 70 percent of all local markets.
Whilst the CREA stated that the housing market has tightened but remains in “balanced territory”, others aren’t convinced.
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