Expect higher prices, interest rates and taxes to cool the housing ... <- read more
Record year-to-date sales of existing homes in June, along with double-digit increases in house prices, reflect a still-very-hot Canadian housing market as we reach the midway point in 2007.
According to the Canadian Real Estate Association (CREA), 31,000 homes were purchased in June through the MLS system in major markets in Canada. In fact, June marked the third consecutive month that seasonally adjusted sales have reached a record high. In the month, the total dollar volume of home sales, the number of new listings and the average price also reached unprecedented levels.
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Ontario Mortgage Team
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