The Conference Board of Canada says the latest indicators predict a strong 2011 for Canada’s real estate market.
“The real estate market had a tough summer, but there is cause for optimism in this area,” said the report on Canada’s leading indicators of industry profitability, noting prices and sales of existing homes have begun to improve since September.
The report mirrors other predictions made this month that 2011 will see modest overall price gains in real estate this year.
Royal LePage said the national average home price is expected to rise 3% to $348,600 in 2011.
New home prices have also been strong, rising 0.3% in November, according to Statistics Canada this month. It was the third such gain in the past four months.