The monthly Metropolitan Resale Snapshot provides an overview of the existing home market and expectations for existing home price growth over the short term for 29 areas.
Document Highlights
Sales were mixed again last month in Canada’s four largest cities. Vancouver’s market was in full correction mode, with sales off sharply. Montréal sales were down again, indicating the market may have peaked. Calgary sales stabilized, potentially signalling a market trough. Sales rose in Toronto, hinting at a firming market after the federal government imposed a tougher mortgage stress test.
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