The face of Canada's real estate market is changing
Economists acknowledge a slight deceleration in the Canadian housing market, and indicate that the real test will come when evaluating October sales, after adjustments to new mortgage rates and regulations.
Following a slight uptick in fixed mortgage rates, many experts are predicting a slight slowdown in the real estate market to follow.
An unamed representative from the Canadian Real Estate Association states that although the market is seeing a slight decline, it is premature to start fearing overheated house prices at this point.
It is also important to note that the month to month numbers typically tell a very different story than the year over year averages. In comparison with September the previous year, sales are actually up 18.2%.
Follow the link for the full article from the Financial Post.