Home prices were relatively flat during 2015. A lower Canadian dollar and U.S. economic growth should fuel service and manufacturing sector dynamism in 2016, improving employment levels and consumer confidence, and providing a lift to home prices.
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There is no official start or end date for this annual housing scenario but February proved that this year, the market is off to a quick and strong start. The spring real estate market is perceived to be the most robust time of year when we see serious buyers and sellers come out of hibernation.
The decrease in sales in May was more pronounced for plexes, as sales of this property category fell by 20 per cent. Single-family homes and condominiums registered a similar drop in sales, at 4 per cent and 5 per cent, respectively.
“We are witnessing changes from one month to the next, as August’s results differed significantly from those of July in many respects”