The S&P/Case-Shiller home-price indexes, a closely watched gauge of U.S. home prices, saw prices fall further in the first quarter amid the continued deterioration of home prices as the subprime-loan meltdown weighs on the sector.Meanwhile, U.S. new-home sales rose in April.In the first quarter, the Case-Shiller indexes showed home prices across the country fell 14% […]
Alberta’s red-hot economy is fuelling demand for residential real estate in Nova Scotia, PEI, New Brunswick, and Newfoundland this year, according to a report released today by RE/MAX Ontario-Atlantic Canada.“Strong economic performance in Western Canada continues to spillover into other parts of the country,” says Michael Polzler, executive vp and regional director. “A serious influx […]
Median home price down 8% from a year ago
Higher mortgage costs are expected to slow new home construction in 2008, but numbers will remain high by historical standards, Canada Mortgage and Housing Corporation said today.CMHC predicts residential construction will drop to 214,650 units in 2008 from 228,343 in 2007, and seven of the 10 provinces will register a lower number of housing starts.“Most […]
Major correction is not in the cards
Growth in new housing prices slowed for a second straight month from a year ago in March, continuing a downward trend that started in September 2006, Statistics Canada reported today.Contractors’ selling prices rose 6.1% between March 2007 and March 2008, a slightly slower pace than the 6.2% year-over-year increase posted in February.Prices rose 0.2% between […]
Decline reflects drop in multiple starts
The S&P/Case-Shiller home-price indexes, a closely watched gauge of U.S. home prices, saw prices fall further in February as slumping home sales and an increasing inventory of vacant homes further increased downward pressures on prices.According to the indices, released today by ratings firm Standard & Poor’s, home prices in 10 major U.S. metropolitan areas fell […]
Urban singles rate drops 2.9%
Average debt load of Canadian homeowners is $29,400 above their mortgage