(Source: Reuters)

Canadian resale home prices are likely to rise, not fall, and sales will nearly match those of last year, the Canadian Real Estate Association said in a revised forecast on Thursday.

A much stronger showing in the second quarter, and a solid start to the third quarter, prompted CREA to predict a dramatically smaller decline in sales of previously owned homes for 2009, and for prices to edge up.

Read the full article by Ka Yan Ng “Canada home prices seen rising, sales stabilizing” at Reuters (August 27, 2009)

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