Low interest rates trump cheap oil in Canadian housing markets

Financial Post

The organization that represents about 100 000 realtors in Canada has updated its housing forecast and is now calling for prices to rise again slightly in 2016.  The Ottawa-based Canadian Real Estate Association acknowledged that the outlook for oil and other natural resources has deteriorated, impacting some provinces.  "However, the continuation of low interest rates and supportive demographics has resulted in stronger than expected home sales activity in British Columbia and Ontario," said CREA, noting the two account for 60 percent of Canadian housing activity.

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Michael James

Michael James

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CENTURY 21 Explorer Realty Inc., Brokerage*
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