Canadian home prices continued to rise in April even as year-over-year sales fell three per cent, according to the latest industry data that has left economists divided over whether the market can count on a soft landing.
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Finance Minister Jim Flaherty is dismissing fears about Canada's housing market, saying the current slowdown is welcome news and that there is no need for further government intervention.
Canada's once-sizzling housing market continues to fall back to more sustainable levels, but as yet is managing to avoid the earmarks of a damaging crash that would spill over into the general economy.
In its report titled Psychology of House Hunting, the Bank of Montreal found that 80 per cent of prospective homebuyers know if a house is the right one for them the moment they step inside.
U.S. homebuilders broke the 1 million mark in March for the first time since June 2008. The gain signals continued strength for the housing recovery at the start of the spring buying season.
Canada's housing market continue to show signs of slowing from the torrid pace set in recent years, but also defying the worst fears of an imminent collapse.
The average Canadian homeowner doesn't think they'll be mortgage-free until they're 57 -- two years longer than what they expected last year, a survey by CIBC suggests (TSX:CM).
U.S. home prices rose in January at the fastest annual pace since June 2006, just before the housing bubble burst. The gain shows the housing recovery is strengthening ahead of the all-important spring buying season.
The number of Canadians expecting to buy a home within two years has dropped dramatically even though overall confidence in real estate remains strong, according to an annual survey published Tuesday by Royal Bank of Canada.
