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http://ca.news.finance.yahoo.com ... drop-next-year.html
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Hot housing market to cool, prices will drop next year, TD Bank saysWed May 5, 10:18 AM
0 ~) ~- f/ ?8 x1 cThe Canadian Press
( U+ m% E( `8 q/ \+ ^7 ^Email StoryIM StoryPrintable View.By The Canadian Press5 d* q/ r! t: I) w9 q7 y& n
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OTTAWA - The TD Bank says home sales will be significantly lower in the second half of this year and next — and prices are dropping too.
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The new outlook is in accord with previous expectations, with the exception that TD now believes the slowdown from the current hot housing market to be sharper.
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The bank says with home construction stronger than expected, the added supply will soon begin affecting prices./ o1 E) r) M! U/ _0 ^; ~; Y
: B7 z9 F# d+ eThe first half of this year has been hotter than expected, and the second half will be cooler, the bank says.6 v) V% A/ m8 M
0 t) p! l4 o6 GTD says it had expected existing home prices next year to gain a modest 1.6 per cent, but now believes they will actually fall about 2.7 per cent on average.
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# Y$ d0 S6 ^( m+ g$ MThe bank says prices will drop next year in seven of Canada's 10 provinces, with the three prairie provinces breaking the trend. |
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