Real Estate
Fewer homes to be sold this year
by
The Canadian Press - Story:
80582
Sep 17, 2012 / 7:02 am
Sep 17, 2012 / 7:02 am
Photo: The Canadian Press. All rights reserved.
For sale signs stand in front of a condominium, September 27, 2011 in Montreal. THE CANADIAN PRESS/Ryan Remiorz
The Canadian Real Estate Association is cutting its forecast for Canadian home sales this year and next.
The industry group is also lowering its national average price forecast.
The group says the change follows a tightening of mortgage lending regulations by the federal government.
Sales in August slipped 5.8 per cent compared with July and were down 8.9 per cent compared with August a year ago.
The month-over-month change was the largest decline since June 2010.
Sales of previously owned Canadian houses and condos have now gone down in five of the past six months.
Read more Real Estate News
Castanet pays for news tips. Email us a news tip, photo, or video and your name will be in a draw for our weekly news tip prize $25. Email us news@castanet.net
- Offer bests Don Mills bungalow’s list price by $82,800
- Toronto Entertainment District condo meets demand
- Four bids for New Toronto home
- Multiple offers for hard-to-get Davisville home
- Reduced and relisted, Bloor West home sells
- Big bang in Bloor West as home sells $100,000 over asking
- Should I buy that condo now, or wait for prices to fall?
- Home of the Week: Downtown Toronto condo aimed at entry buyers
- Home of the Week: King West digs aimed at entry buyer
- Canadian home sales rise in April
- Size and noise worries hamper False Creek condo sale
- Home of the Week: Rathnelly house was architect prof's pet project
