Canadian housing market shows signs of stability

Canada's housing market continues to show signs of stability as the number of homes sold so far this year has come in slightly higher than projected, a possible signal that the market is set for a rebound in 2014, according to the Canadian Real Estate Association.

  • CREA is now estimating that 443,400 units will be sold in 2013 , a decline of 2.5 per cent from 454,573 in 2012. It had previously projected a decline of 2.9 per cent from 2012.
  • The group reported that sales activity began to pick up at the end of the first quarter and accelerated in the second quarter. It projects that 2014 will see a strong rebound, with 464,300 housing units sold — about 9,700 more than last year.

For the complete article from The Hamilton Spectator, click here.

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