(Source: The Financial Post)
OTTAWA — The number of resale homes on the market is rising in Canada — and so are their prices, according to a report issued by the Conference Board of Canada on Friday.
The board’s Metro Resale Index shows home listings were up in March in 25 of the 28 markets measured – and by more than 10% over March of 2009 in most of those areas.
Sales were also up in 25 of the markets over February, and outpaced March 2009 in all 28, the board said
Meanwhile, prices had risen by more than 10% in 16 of the 28 markets. According to the board’s calculations, only two cities could be characterized as having buyers’ markets in March — Victoria and Regina. Thunder Bay, Ont., was the only city with a seller’s market. The other 25 markets are balanced, favouring neither buyer nor seller, which the board says should keep price increases down.
Read the full story “Resale home listings, prices on the rise” in the Financial Post (April 23, 2010)