Housing market set for autumn boom
Figures coming in from regional real estate boards suggest that September was a great start to the autumn season. The hot markets of Toronto, Calgary and Vancouver have all seen year-over-year increases for existing home sales; 10.9 per cent for Toronto, 11.9 per cent in Calgary and 17.7 per cent in Vancouver. In Victoria there has been an MLS rise of 16 per cent and the local real estate board says it hasn’t seen sales at the current level in September since 2009. Although we have over a week to go until the Canadian Real Estate Board publish the national figures, and individual data is not available for every region, the three hottest markets are likely to push the overall market higher, unless we see some large declines elsewhere.