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Steady Growth for Canada - RE/MAX quotes
Slow and steady growth forecast for residential real estate
 in major Canadian markets in 2008, says RE/MAX 
Canadian home sales to top 500,000 in 2007
 
After posting extraordinary gains in 2007, housing market performance will moderate in most major Canadian centres in 2008, according to a report released today by RE/MAX. 
The RE/MAX Housing Market Outlook 2008 examined residential real estate trends in 18 markets across the country.  The report found that while economic prospects will continue to improve next year, few major markets are expected to exceed record sales levels set in 2007.  Winnipeg, Hamilton-Burlington, Kitchener-Waterloo, London-St. Thomas, Ottawa, Sudbury, Saint John, Halifax-Dartmouth, and St. John's are all predicted to buck the trend in 2008, with appreciation ranging from one to seven per cent.  Average price is forecast to increase in 78 per cent of markets surveyed next year, with the lowest price increase expected in Edmonton and the highest in St. John's.  Nationally, the number of homes sold is expected to break through the half-million threshold in 2007, climbing 13 per cent to an estimated 545,400 units, up from 483,770 units one year ago.  Average price is projected to appreciate nine per cent to $303,000, up about $25,000 over 2006 levels.  In 2008, home ... more

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