Canadian housing market remains strong

A major Canadian bank has concluded that Canadian housing market is largely immune to turmoil south of the border and is expected to remain strong in the near future. The fundamentals underpinning the Canada's housing market are still quite strong according to the Scotiabank, one of Canada's big five banks.

• Low unemployment
• High immigration
• Apartment vacancy rates are tight
• Little evidence of overbuilding
• Little speculative activity in the market

Scotiabank thinks that above given reasons are enough for a healthy housing market growth in Canada. However the bank says the price levels are above their long term trend in some cities, but these price levels are not as high as the last 2 housing booms of 1976 and 1989. Most major markets in Canada are still categorized as "seller's markets" and are expected to rise faster than inflation.

Visit MyAbbotsford.Com for local Abbotsford real estate market information and receive free market evaluation of your property. Check out TheCondoSeller.Com for condo market information.

Comment Notification

Subscribe to this post's comments using RSS