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Canada's housing market both vigorous and stable 1 v: S: I2 @; Q4 [% ^" q4 M3 F
! x' V/ O m! z3 E( R2 l/ F- Country's market poised to show growth throughout 2006 -7 S( @/ X' i: V' z# [6 ^" q# b
0 ~% w* x' Q& b3 F) P TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market* c! P2 g/ Z4 g, ]
exhibited moderate price increases and stable unit sales during the third
- c* S' b( h- i" x# o% l& Yquarter. Wide regional variances continued to be the dominant characteristic+ j, q7 A8 _& c$ [( q9 o
in the market, exemplified by frenzied levels of activity and double digit
& M6 U! Y5 w& d k) iprice gains observed in the energy and commodity rich Western provinces, and3 ]. [. Q& U) S4 Y( T
more reasonable sales volumes and moderate price appreciation in Ontario,
+ f# I. V) O4 [. j- i/ mQuebec and Atlantic Canada, according to a report released today by Royal
9 ], o3 G, Q# s2 G# j6 ILePage Real Estate Services.
' Q7 x5 W1 s3 G1 Y
. U6 c( a% B9 Y8 Y' v0 f# v% U Nationally, market trends established through the first three quarters
- |: C" X$ L4 E8 ^are forecast to continue for the remainder of the year. Robust economic
% y0 N0 N+ |! S( Wconditions, low unemployment rates, modestly growing salaries and wages, and- O a. F: ?2 Y1 o6 N
sound consumer confidence contributed to the overall strength of the7 \+ C$ L, y8 z/ b: w5 F2 o* W- T
residential real estate sector.4 y/ a- @5 ?; X& X7 _7 S! U
" V! O; }1 Y$ h1 p( X
Of the housing types surveyed, the highest average price appreciation
5 {& ?4 l1 [ X8 moccurred in detached bungalows, which rose to $300,365 (+16.3%)
& {/ \% g" z1 ~3 e% ayear-over-year, followed by standard condominiums, which rose to $211,562
" E* S& |) A6 z# E; I$ R7 ~(+14.2%), and standard two-storey properties, which increased to $365,380$ I! J6 X/ X/ C0 q9 d2 o& w$ N, O
(+13.2%).! ]5 ~1 d/ z; C3 B
1 J$ d0 `4 P7 V3 b& P4 _5 ^3 l: t5 f "Canada's sturdy housing market continued to demonstrate steady growth7 G. n2 M6 K3 y" n0 B
during the third quarter. For all but the west, we have moved on from the) B1 G7 R1 N$ h/ z! w6 I! `
frenzied expansion that characterized the first half of this decade, and are
7 [. |1 G4 c5 Y6 cpoised to show continued growth at a more moderate pace," said Phil Soper,
$ e: k3 h4 O/ c j E7 P# vpresident and chief executive officer, Royal LePage Real Estate Services.$ Y7 E3 N4 p: G6 Q d" @; C
"Gone is the sellers' market that we have lived with for some years. We- Q# |. N) C( X6 l7 {, v% Q
welcome the more reliable conditions that are characteristic of a healthy# v' {1 {" L' f- t" v, p3 K4 O
balanced market."8 @2 d5 J9 V" x. i
) }# R2 v5 B8 i
Despite the double-digit rise in average national house prices,
' O3 a1 D7 X4 J2 c [considerable regional variances were exhibited again this quarter. The shift) m3 L, w, L& B7 X3 r0 p5 q
to balanced market conditions, which began in late 2005, has continued
3 E' J R' D6 `, j; Ithroughout most of the Central and Eastern regions of the country. In the core
3 |3 P2 ~* O! Q5 C" Genergy producing western provinces, the combination of very high in-migration,
% _# ^+ U0 W- Fmanageable affordability, and a shortage of inventory has driven record
! u* R" E7 \# o* K" m0 [3 ibreaking price appreciations.
! M/ o& I! Y$ r3 p- B0 m0 a0 l. B/ O& t
Echoing the second quarter and supported by Alberta's rapidly expanding
7 M) F/ a) z3 y" Ueconomy, Calgary and Edmonton led the charge of Canadian cities with the1 c+ C2 g7 M! I5 s
largest house price appreciation in all housing types surveyed.
$ I/ O! i8 Z# p9 n# o8 M
$ D) H, u8 E \& f2 A, v' D In Ottawa and Toronto, growth remained steady, supported by solid
# t/ E0 E9 x0 e" T( Eeconomic fundamentals, an increase in available inventory and strong consumer: I9 ~* [8 F. G: q. ]
confidence. While the pace of price appreciation in Ontario leveled off- e P+ N# G4 {0 x
slightly, the province's real estate market remains poised for modest growth.
" }/ |$ N# D2 v# kIn Atlantic Canada, new housing and condominium construction offered buyers7 `# Y- q* g& O0 \5 s6 w5 R
greater selection at more competitive prices, resulting in a slower rate of
& Q: k' V! `) j- \7 zprice appreciation when compared with 2005.( y! R9 X3 A* x9 j' L: ]! c
, Y7 w1 w# @+ r& @' S0 ?
While the pace of growth in Canada has slowed, the domestic housing! g+ i1 s8 t6 h9 y: F
market is expected to outperform the American market. The economic and6 _6 L+ ]( Z+ ~/ a) n& }
financial fundamentals driving the residential real estate sector in Canada/ \. ]: }3 v& U) z8 }" X9 E! N
are markedly different than those found in the United States.7 \: F: A( z% x+ f1 i9 S
( e5 ?! I5 Q1 f9 [4 X. r Added Soper: "Canada's housing market is likely to outperform the
( T0 V2 z) {. U, A3 ~% F. b4 ZAmerican market through 2007. A number of factors are working in Canada's
& Y$ a$ R" T9 ]7 f% Xfavour, including healthy personal and governmental debt levels, the6 c+ X3 X' {5 G: O$ I( u f/ d1 `
relatively modest rise in interest rates in our country, and general- _& H, g( t2 u1 k6 F h i
affordability in our major cities. In addition, Americans are now seeing the: v1 A) Y' X% X1 r" F# u9 r
downside of a tax system that encourages maximum homeowner leverage, and
( I. f( v2 V$ {- [7 c3 qaggressive financial products such as zero- and negative-amortization
! G# {: t! f$ pmortgages that work only in a high price growth environment."
+ u" s# p& z' j" Q
9 r9 ? @3 a( a+ C4 O+ a <</ [( n. g* P( w& Q2 {+ |/ Y
REGIONAL SUMMARIES
. I1 C# M2 R! z$ n3 L# Y7 }/ W+ l >>1 |/ C6 ?1 B x& g- j7 i
9 W. P2 i" d; z5 x6 G( k9 k Balanced conditions continued to characterize the housing market in
8 W# G1 D- _6 Z# i- P2 JHalifax, as significantly higher inventory levels helped to moderate the rate/ S9 x; f, v7 {0 y. R( M: @; X
of price appreciation. Buyers were increasingly choosy, taking more time: e2 {3 Z+ [; a
looking for newer, low-maintenance properties that were not in need of: H# [0 }8 V5 V5 G/ z. p, a K
renovations./ Z' O9 X" q+ j L1 a. |3 \
' F% t/ W' X8 R; s" n7 i
The housing market in Moncton remained healthy and strong as a slight
+ q& p' u/ Z0 p ]increase in inventory helped to moderate the rate of price appreciation1 H) L( L, j4 Q7 [) Z/ l
compared to the same period in 2005. Activity was brisk throughout August and
, T# X. r! K. p# G" A0 a3 n) n8 zSeptember and is expected to remain this way through the fourth quarter.
; k& O$ G7 ?$ l, M0 c; o2 g" R3 ^* X( ?3 J) w$ l$ s& K
The housing market in Saint John underwent its traditional summer
, `. p2 T. S4 ?: P# Yslowdown in the third quarter, with activity picking up towards the end of the
$ I, C, F5 i2 Q" {2 o$ R' |9 l2 O+ vquarter. The local economy continued to thrive, as construction on a new
& T/ l; B' f9 {600,000 square-foot shopping area has begun, bringing several new box stores4 L1 n1 B- V* C {$ ~ P8 V" a$ p
to the area. Buyers have begun seeking less expensive fixtures for their homes
% W" M# H( L( `3 z: E7 v/ u* F6 Jand are instead opting for more affordable housing options.8 I8 x; R1 a- k0 m8 i' X
9 n* b, w) K' v2 ]2 h- t$ h In Charlottetown, the housing market started to move towards balanced
. L4 R. `6 b& Iconditions, as some sellers had to begin to lower the asking prices on their
! @. F4 y* F# E7 Q' o: z( I; T7 ohomes to make them more competitive. Activity from out-of-town and US buyers
0 G7 K6 p: d; awas down slightly compared to 2005, likely attributable to the strong Canadian
& x5 K) }: u3 d+ sdollar. Inventory levels began to creep up in the third quarter, providing
% a( `3 h3 C. M8 Rbuyers with more options when looking for a home.; |3 G5 z n, B- q/ e) D! N
9 E$ }$ Y3 h6 V3 @' H Activity in St. John's slowed slightly in the third quarter, particularly$ k+ }! `- I* w7 ?, [2 X, j
among higher-priced properties, where there was a slight over-supply of homes
6 w2 X! j! }/ _priced over $200,000. Listing periods have increased when compared with 2005,
+ X2 r5 ^1 R$ x \& c" tas some of the pent-up demand that had characterized the market over the last
8 o3 K3 V& {% g, i0 A/ P6 Qfew years has been satisfied, resulting in more normal, balanced conditions.
7 B) }5 U( j! \+ o- {- Z
3 O6 L* S$ p Q4 h7 H Montreal's housing market recorded modest increases in average house
! D) P- h- Z& m1 }' _ Kprices, due to a slight seasonal slowdown in the third quarter as inventory
6 g W( k$ k7 |; k& Z" _levels rose. Part of this can be attributed to the fact that many renting( k' H! u) ~$ [/ y
first-time buyers were motivated to close on the purchase of a home by July 1,
" W/ e$ i8 ?- y" Y4 S3 V; \& Dwhen rental leases expire in Quebec. Once this date has passed some of the
: i1 o; ~. V2 L4 q5 v ]! }4 epressure is taken off the market, allowing buyers to visit more homes before5 [: j" y2 ? |4 {/ Z, }
making a purchase.
0 c/ m' q/ a4 H6 C" v3 E( Q8 I! _1 K: A7 @' b
Ottawa held its position as one of the country's most stable housing7 h: r/ w+ ]* T# y+ B$ j; T$ j8 ~
markets in the third quarter, reinforced by a vibrant local economy and strong& g" Y& [6 Q S% M3 I2 u/ P# }
confidence, resulting in modest increases in average house prices. The city: X& h6 ?5 K$ ~! s+ Z. L3 X
centre remained a bright spot in Ottawa, with homes in this area attracting
8 v4 E8 Z% n# }2 ]0 battention due to their convenient location and proximity to downtown
^: X# X" G; y( R" n. `2 v$ Ramenities.$ K N) w1 p# \& x$ y* W
0 G1 Q0 O3 X7 n/ ]# C The housing market in Toronto sustained healthy activity levels6 K) J; b) @- Z1 N7 `+ P7 c
throughout the third quarter, as a strong economy helped to maintain demand" u& U, }, g @& s0 `
across the city, causing average house prices to rise moderately. Toronto has- M+ e: e' R2 K# D: W; s
continued to experience modest growth in average house prices, and has been
8 A3 Y1 X& v4 ^7 Gdriven primarily by purchasers who are buying homes as their principle2 r0 V/ ~ t3 h0 \
residence, rather than for investment.0 ~6 m7 U" @( n, @5 ]
5 O: Y2 c* h2 ^0 ]- o: F The vibrant Winnipeg housing market continued to show its strength as+ j2 I1 v2 s8 L6 _' e
house prices rose during the third quarter. The booming local economy resulted) M5 E7 F' H" y
in a historically low unemployment rate, helping to bolster consumer
* d1 D, u* Z3 J( X8 ?3 D; _! gconfidence and Winnipeg's ranking as the city with the lowest capitalization
1 K6 g. i2 r w, i! {rate among the country's larger cities - helped to encourage buyers to enter O! _7 @0 o9 m
the market.
' m9 @5 p$ {7 [3 g8 D4 j8 S
* n. L5 \( i. y In Regina, the market experienced a slight seasonal slowdown through
0 ^; Z" V5 H/ g6 R5 lJuly, as there were fewer purchasers in the market due to summer vacations. In
% p! \& k# q. L6 f" r( m$ HAugust, activity resumed to the busy pace previously seen in the spring4 @, |- n0 q" {1 X3 E
months, as the influx of purchasers made it more difficult to find a home due9 |! F. O6 Q' L6 f: j3 j3 k. k) t
to the shortage of available inventory.. w. Q; i! Q: }! E
7 }( r: F- W1 T' r5 _: p Activity in Saskatoon remained brisk as the market maintained its
* k6 n1 ], G& \" R, b! D# m' jmomentum from the busy spring sales period. The economy in Saskatoon remains" N9 W' i Z' E% A
vibrant, as employment opportunities are abundant with many businesses
7 Q, w# Z7 `/ q, Jstruggling to make hires and having to recruit outside the province.
" Y: I# B, L) S0 z/ Z- m5 m6 a7 I. V. q7 \: Y
Calgary's housing market recorded blazing average house price increases
3 v, W O( A7 A( B; `- B: nin the third quarter, in all surveyed categories. The burgeoning economy, low& M% w# p$ m9 x4 Q' ?% u4 P
unemployment rates and low inventory levels remained the leading factors that
* e' o: j8 `4 Ipressured Calgary's house prices upwards. However, regardless of the soaring
0 G. ]0 w# C3 w- V& _5 g# z6 Nprices that characterized the market - even during the typically slower summer5 @2 S( b' V) m- A3 g2 L
season - it is expected that activity will become slightly more balanced, as1 x- `( L% p5 V! ~; A
buyers are becoming more reluctant to participate in the frenetic activity.
( g0 \, J) m1 ?( Y8 _: T* Q9 i% y# h+ I' [: C5 {
Edmonton's booming local economy continued to thrive in the third quarter
2 R f- A2 U- {* d: H. }+ P1 N$ Vas activity in the oil sands north of the city continued to flourish. Edmonton& z& N1 E# c9 \( @. p) L/ g
remained the hub of activity for those coming to work in the oil industry,4 |$ _2 Z4 X% @
maintaining tight inventory levels across the city, resulting in prices2 R4 X$ a! _8 z1 c
increasing at record levels. However, as inventory levels continued to improve
' x6 e4 g; [ S0 pin the third quarter the rate of price appreciation should moderate slightly' U" x' T/ }9 U9 h: m0 C6 e
towards the end of 2006. ) [5 W2 f9 R9 Z; d$ T
# l: f/ b0 u& yWhile Vancouver has seen a slight reprieve from the severe shortage of
$ w+ R- s& Z7 ^% U% Tinventory that had previously characterized the market, supply is still unable8 Z! g" m! U- R& ~6 R. G' j
to meet demand, driving house prices upwards. Vancouver has a very diverse& d- G: |' [ {; I) s( n* v
group of active buyers - from first-time home buyers to baby-boomers to
9 |2 z9 Q" ^. s1 M/ ? qforeign investors - all of whom fuel the demand for houses, placing added! J: x( {% T! ?! l* |% t$ |
pressure on tight inventory levels.
* ~4 e) O3 J, Q T3 I' [3 y4 z1 z& W' c. v! h
Victoria's market is vibrant and supported by strong economic7 @9 e2 H. _4 s& V6 c
fundamentals, fuelled by a booming tech sector and a migration of young people
3 \* r" r/ `2 \into the city that has continued to support the area's house price increases;3 {. {6 d ~* |% O
while increased inventory levels have afforded buyers more time when searching: Q, J- y, l) o1 Q" R
for a home, helping to normalize the market's pace.8 A& d3 Q+ m: ?* O- N& N- P$ V# S8 J
~: T. C7 G6 M/ ]% E( ~, H) S
<<
( N2 n# i4 M1 o( w6 c% ~# b Survey of Canadian Average House Prices in the Third Quarter 2006
8 g, \8 {" L7 w8 P: z @5 n# M& v" F, j+ [
-------------------------------------------------------------------------1 h; K& `' F" k# M/ F2 n
Detached Bungalows Standard Two Storey; e7 H- J& E. x2 [+ E
-------------------------------------------------------------------------% R; x6 O Z! [; t/ {8 I' n
2006 Q3 2005 Q3 Bungalow 2006 Q3 2005 Q3+ r& L' V* A% n; H& L r
Market Average Average % Change Average Average
" P* S( E3 t! I" Q -------------------------------------------------------------------------
# ]2 H& _) c1 `( ]+ \6 ` Halifax 186,333 173,333 7.5% 198,667 199,000
3 Y1 y% i* }, z; g1 P -------------------------------------------------------------------------
) D( K$ \7 G# M& M: p6 g Charlottetown 145,000 141,000 2.8% 175,000 170,000
! _- k K$ N+ i4 ]* H -------------------------------------------------------------------------
) w+ Y* i" y) H# M7 T: J Moncton 135,000 127,000 6.3% 129,000 123,000
6 a4 M9 {- w& P1 w -------------------------------------------------------------------------$ U k' S# Y! [- s3 s3 w) x. Z
Saint John 141,200 142,900 -1.2% - -
' b& z5 @" v3 p* M- p9 K; m7 j -------------------------------------------------------------------------3 x1 _7 H4 ^# x# B
St. John's 143,667 142,667 0.7% 200,667 202,333
h, k; D9 U7 `! \ -------------------------------------------------------------------------2 p8 |8 Z! A" ^2 C4 h2 L0 ]* F& @
Atlantic 150,240 145,380 3.3% 175,833 173,583* K: l* B: {3 w; q6 @) e
-------------------------------------------------------------------------
# I# E0 S. q+ n/ R9 H6 q1 P Montreal 213,691 203,500 5.0% 321,141 316,185
# d: {7 E0 @$ D% i -------------------------------------------------------------------------7 ^' [$ o4 I$ N" k2 B+ e2 ~! E7 [
Ottawa 290,083 278,417 4.2% 285,667 273,250& |8 |; v/ m8 ~9 `: p# m& y4 Y
-------------------------------------------------------------------------4 W9 T2 V3 b6 B6 F; U, _3 m+ V
Toronto 373,368 355,882 4.9% 481,523 474,766! p. Y8 u; v0 G5 j7 K# _4 _
-------------------------------------------------------------------------9 i. i: L% m; `; X
Winnipeg 181,579 159,860 13.6% 202,337 180,707 z0 R3 k/ ]0 y5 S5 a
-------------------------------------------------------------------------: A8 J d9 t$ `) N1 M4 y
Saskatchewan 170,667 156,083 9.3% 182,600 166,500
+ L/ ?% [) B$ X; P -------------------------------------------------------------------------
% \: b; i' u6 Q4 K6 Z' _ Calgary 395,067 252,411 56.5% 405,778 264,389
% N* E* O+ l2 B$ l# G -------------------------------------------------------------------------/ c* D( }/ Q$ P. _) N! L4 N- ?
Edmonton 286,857 194,857 47.2% 316,429 206,714
j- d& Q- l3 B# R9 ]5 h -------------------------------------------------------------------------' o; A( ` {1 M! k; `
Vancouver 704,250 601,000 17.2% 794,000 697,500. G0 e* J" W- s8 \. l. t
-------------------------------------------------------------------------$ ^% A& N& m7 Q/ V
Victoria 375,000 348,000 7.8% 403,000 391,000
6 x" I! v6 G) z; r' b -------------------------------------------------------------------------, ^1 c* H$ J) Y0 w5 F
National 300,365 258,202 16.3% 365,380 322,860* O9 l; _3 x% w/ V1 S x4 T/ a5 f
-------------------------------------------------------------------------8 a- j) m* E L$ h) C3 a
/ l X! g3 R+ N1 A -------------------------------------------------------------& a# X; }3 d& x# X' Y- a3 d1 y
Standard Condominium( a8 q9 W f& v1 b
-------------------------------------------------------------1 V9 ?9 f7 G# t" q
2-Storey 2006 Q3 2005 Q3 Condo
$ x, g! Z/ ^3 Z6 `4 y, n7 o Market % Change Average Average % Change# L p4 D0 w: Z% }4 J6 z
-------------------------------------------------------------
7 x# f& s$ ?5 I5 U" t6 e Halifax -0.2% 142,000 103,000 37.9%6 o1 e. i x/ S8 ? ?/ m
-------------------------------------------------------------
6 R# y8 K, I3 k9 x; P9 V( K" @ Charlottetown 2.9% 98,000 98,000 0.0%& U! K: z; F5 e# ~
-------------------------------------------------------------
8 K' a. K9 I' N; y% b Moncton 4.9% - - N/A
8 ^( B& f _: h1 z- Q. o -------------------------------------------------------------, I% i" @: p% I* `4 L. b. K
Saint John N/A - - N/A# ?+ D) \" t% A% u
-------------------------------------------------------------
; @2 Y, l) B6 P5 C7 \' x" C St. John's -0.8% 146,333 145,667 0.5%
. U' E/ n: B5 d( ~ -------------------------------------------------------------
" i# G; m# ~; D R. V* `3 V3 a Atlantic 1.3% 128,778 115,556 11.4%
& j1 @% u, a# ]! b. a -------------------------------------------------------------) m7 _4 h/ r( R% }6 @! [" s
Montreal 1.6% 193,190 188,016 2.8%, t! R8 a- y2 T. b
-------------------------------------------------------------0 y7 d8 b2 u8 `: U
Ottawa 4.5% 181,083 172,250 5.1%
. s( u* v* [" d9 i2 @. p3 \. M -------------------------------------------------------------( l- {1 {6 @" R# B$ w. H! c
Toronto 1.4% 252,088 242,918 3.8%
, Y# `6 S+ E' j" @ -------------------------------------------------------------. \0 T$ t# } b# h. ~6 C
Winnipeg 12.0% 105,648 96,008 10.0%8 i- B* f1 _* y% f3 F
-------------------------------------------------------------/ F) ~) O8 O, F! o' J& o% b9 ?7 M
Saskatchewan 9.7% 106,250 101,000 5.2%1 R2 i" U4 \1 h' N
-------------------------------------------------------------/ F1 L( g5 e# B7 R
Calgary 53.5% 245,844 153,867 59.8%% \/ E: w, q; O( j( d& l5 t1 z: B; ]
-------------------------------------------------------------5 ~; S0 O, I' R0 {
Edmonton 53.1% 200,433 131,500 52.4%
. e; I/ U% {, k1 g& i -------------------------------------------------------------# U" z6 D! a6 v. H* C9 ~! f
Vancouver 13.8% 366,250 323,250 13.3%
* l' _ }- T1 ^! L4 E -------------------------------------------------------------
. d% y6 C$ Q: t, ]" O Victoria 3.1% 229,000 220,000 4.1%
( ] O! d, J8 T- d( k3 X8 P. H -------------------------------------------------------------9 j+ J" g! Z4 z, u6 E; H6 r0 v- O
National 13.2% 211,562 185,296 14.2%
: q, U' f( z# Y, k7 a a -------------------------------------------------------------" y, B6 Q( o4 S3 }$ j/ n
>>8 N- G8 F5 q4 R4 _9 b: l
, r$ R7 `6 l' `% C3 m
Average house prices are based on an average of all sub-markets examined
3 J& _5 L2 o0 E: r% F5 Zin the area, except for the smaller markets of Charlottetown, Moncton, Saint9 g0 C/ m* ^ e& R" q" b
John and Victoria.
8 U" L' T% A( D$ p7 Y
+ c# V- r' B2 ~3 t The Royal LePage Survey of Canadian House Prices is the largest, most8 p0 J& F0 A: a% H* Q t
comprehensive study of its kind in Canada, with information on seven types of+ A- a' \) m0 f1 A4 \
housing in over 250 neighbourhoods from coast to coast. This release6 f0 Y3 J6 W* V: L9 B! _5 P. f
references an abbreviated version of the survey, which highlights house price
, T# R; D4 a9 _- I2 ktrends for the three most common types of housing in Canada in 80 communities
; B7 ]9 `. G" Pacross the country. A complete database of past and present surveys is7 f, q5 o+ }! o4 }
available on the Royal LePage Web site at www.royallepage.ca, and current7 ?; [% h% J9 W( }! o
figures will be updated following the end of the third quarter. A printable
. E0 f! t3 W) q* P0 v7 J) \version of the third quarter 2006 survey will be available online on$ V$ e5 N) N; ]% Y- Y' K0 U
November 15, 2006.
$ R: I$ @6 S* X. ] Housing values in the Royal LePage Survey are Royal LePage opinions of
/ p) w' e' v. u9 z4 T) pfair market value in each location, based on local data and market knowledge. {4 f" O* J% M0 T' H$ a
provided by Royal LePage residential real estate experts. Historical data is2 z/ u7 t7 z% t+ _; l2 z
available for some areas back to the early 1970s. |
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