Real Estate in West Canada Enjoys Strong Improvement
Home sales are cooling in the east but improving in the West. According to recent Calgary real estate news reports, there are no fears of a real estate meltdown at all in Canada. Although Toronto and Montreal regions are subdued, the market in Vancouver, Calgary, Edmonton, Regina, Saskatoon and Red Deer are doing fine. CMHC, the Canadian Mortgage and Housing Corporation reported that new home starts were up across the country. New construction starts rose to 12,273 or 184,000 on an annualized basis. However, that is still down from last March 2012’s totals. The forecast for 2013 looks to be within 170,000 t0 180000 new starts. Statistics Canada reported as well that future building intentions fell 7.2% in February. Some believe the residential sector is overpriced and overbuilt. Condo sales are actually recovering due to the fact that more people are renting and fewer can afford the down payment on