An August forecast by the Canadian Real Estate Association show that the average price of a residential home in Canada is expected to rise 10.4 per cent during this year and national home sales will increase 8.1 per cent, setting new annual records in most provinces. In the U.S, the National Association of REALTORS® in its September outlook projected a drop of 8.6 per cent in existing home sales and 1.7 per cent in home prices during the year. Many of the conditions that led to the subprime mortgage situation in the U.S. don’t exist here in Canada.
Source: CanoeMoney.ca - November 14, 2007
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