(Source: Scotia Economics)

The strength of Canada’s housing market so far this year stands in marked contrast to the continued softness in the United States and Europe. The majority of major centres continue to report solid sales gains, and stable to even modestly higher prices. First-time buyers in particular are taking advantage of the improvement in affordability stemming from last year’s price declines and ultra-low mortgage
rates.

Read Scotiabank Groups full “Real Estate Trends” in their Global Economic Research Report (July 9, 2009).

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