Canada’s crazy real estate ride to slow down in 2017, realtors say

Financial Post

The group that represents Canada’s approximately 115,000 realtors says 2016 prices and sales of existing homes have exceeded expectations but predicts that, by next year, the market will level off. A new forecast from the Ottawa-based Canadian Real Estate Association calls for a 6.1 per cent increase in sales with the final tally for 2016 set at 536,400 — a record. However, once adjusted for population growth, 2007 remains the peak for housing sales in Canada. By 2017, sales will moderate and only increase by 0.2 per cent.

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Michael James

Michael James

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CENTURY 21 Explorer Realty Inc., Brokerage*
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