CENTURY 21 releases National House Price Survey - Canadian homes a bedrock of value
House prices have remained a bedrock of value for Canadians over the past year, despite a steady flood of gloomy media headlines about the slowing Canadian economy, the volatility of the world's stock markets, and the United States' housing crash and credit crisis, according to a national survey by CENTURY 21 Canada brokers.
Don Lawby, President of CENTURY 21 Canada, says the survey results reflect the solid foundations of Canada's housing markets versus the boom-bust excesses of the U.S. housing market.
"The Canadian housing market is based on conservative lending practices and regulations, strong banks and Canadians' pride of ownership and diligence at building equity in their homes. These characteristics will sustain our housing market as Canada's economic growth rate slows this year," says Lawby.
The CENTURY 21 Canada 2008 Spring National House Price Survey of typical homes in 198 neighbourhoods within 66 cities across Canada shows that prices over the past year have increased in 167 neighbourhoods, remained flat in nine neighbourhoods and declined in 21 neighbourhoods.
To view the Century 21 National House Price Survey Click Here