The Canadian Real Estate Association said that the national home price and sales activity this year will be higher than it had been previously forecast, following a strong spring.
They are now
forecasting that 475,800 homes will be sold in 2012, up 3.8 per cent
from 2011, compared with earlier expectations of a gain of only 0.3 per
cent. The average home price to rise
by 2.2 per cent compared to earlier thoughts that it would fall 1.1 per
"National activity over the spring months was stronger than
anticipated. This clearly shows how the continuation of low interest
rates is keeping home ownership affordable and within reach". CREA president Wayne Moen said.