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Canada's housing market both vigorous and stable % P& B- T6 a1 e: {& _3 m
: F0 S9 }7 |: W% s' [% V o
- Country's market poised to show growth throughout 2006 -+ B% W3 l- A! N( i
( P& j3 K3 ~6 ^8 R3 p9 w
TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
1 R4 \& |7 V. u+ F! D, Q5 vexhibited moderate price increases and stable unit sales during the third
9 D( }' ]5 g; O4 i0 |( rquarter. Wide regional variances continued to be the dominant characteristic& O$ b; E1 T$ y0 r- F4 q% P
in the market, exemplified by frenzied levels of activity and double digit0 K) l; D: I2 B1 _
price gains observed in the energy and commodity rich Western provinces, and0 o$ H2 b0 @* H6 }
more reasonable sales volumes and moderate price appreciation in Ontario,! m; q1 D; {6 {7 Q2 ?
Quebec and Atlantic Canada, according to a report released today by Royal& i- A' p8 w* R' e, d
LePage Real Estate Services.2 |$ j3 S6 n8 c
' _6 D; I% d3 d6 N I' D4 l Nationally, market trends established through the first three quarters
' G4 I. N# r# @7 f- iare forecast to continue for the remainder of the year. Robust economic
: I1 q- o1 O) _% Q4 b# E8 h# R" |0 V; Aconditions, low unemployment rates, modestly growing salaries and wages, and) O/ s8 g: ^) T. s1 |5 }- L
sound consumer confidence contributed to the overall strength of the
) a2 G+ H6 y9 k: o- I/ Iresidential real estate sector.0 L& [6 B9 |8 v) ?- e6 z
+ T8 _6 m* H% \# Q' p! z
Of the housing types surveyed, the highest average price appreciation t7 o% u" \8 ~! S, V) k# i4 }
occurred in detached bungalows, which rose to $300,365 (+16.3%)7 _+ V d* t4 G. N' ~
year-over-year, followed by standard condominiums, which rose to $211,562
3 n1 M: y+ n# {6 J- q: P(+14.2%), and standard two-storey properties, which increased to $365,3807 X0 j: X; L( a6 Q% Q t
(+13.2%).: i/ \ M g$ `( f' x
}5 M/ ^$ L9 }: Q
"Canada's sturdy housing market continued to demonstrate steady growth
9 \; Q0 d) \+ M! y2 J4 a# ~during the third quarter. For all but the west, we have moved on from the
2 X9 p2 x+ c9 `( h( z! s. mfrenzied expansion that characterized the first half of this decade, and are
! D( b" c* E" F. X3 ppoised to show continued growth at a more moderate pace," said Phil Soper,
Z( v0 n! j i$ V" e& Apresident and chief executive officer, Royal LePage Real Estate Services.
: R# a: H/ _1 n5 }"Gone is the sellers' market that we have lived with for some years. We' a6 ]6 t" }9 n9 g# W. i+ v
welcome the more reliable conditions that are characteristic of a healthy
- d2 m2 z; E- J* s0 j3 C6 jbalanced market."
- o; w. N; A" h+ R" [- J% H+ z+ s, S) G
Despite the double-digit rise in average national house prices,
; e: Y1 l Z6 U/ uconsiderable regional variances were exhibited again this quarter. The shift( |1 ^7 r2 R$ m. i/ s
to balanced market conditions, which began in late 2005, has continued" ]5 ^# V: m' j- W( B0 O
throughout most of the Central and Eastern regions of the country. In the core
2 Z3 V% F3 I) C3 H. {- ^! x0 Yenergy producing western provinces, the combination of very high in-migration,
% F: G5 v! Y. f9 o4 Emanageable affordability, and a shortage of inventory has driven record. D$ l' R/ \, A: N* J, Q8 o. D
breaking price appreciations., v& Q4 C9 i% W% O+ p# U
" B3 a7 u2 k9 c* T: f4 F% L g
Echoing the second quarter and supported by Alberta's rapidly expanding/ r8 b. D4 R+ E5 E! {
economy, Calgary and Edmonton led the charge of Canadian cities with the
, |5 t$ j0 B5 n% @8 G5 c0 flargest house price appreciation in all housing types surveyed.
. z3 ~9 l1 b) \. H/ b( v: N7 [5 d6 \: k1 j# M) p
In Ottawa and Toronto, growth remained steady, supported by solid
F+ e% m$ h% Weconomic fundamentals, an increase in available inventory and strong consumer) S3 i) W1 a4 p" o0 }/ F$ R: h
confidence. While the pace of price appreciation in Ontario leveled off: p! i8 @! c" A. U- ?
slightly, the province's real estate market remains poised for modest growth.3 m" V8 I2 z3 y* D& R/ ]2 K
In Atlantic Canada, new housing and condominium construction offered buyers
( ^% h P# H- v7 F0 egreater selection at more competitive prices, resulting in a slower rate of
3 `3 x3 t4 Q3 i' S6 x0 Wprice appreciation when compared with 2005.
+ B) I7 T" g% @: H: L) c/ x8 d ?4 `
While the pace of growth in Canada has slowed, the domestic housing
6 f; S0 `! ~" p: jmarket is expected to outperform the American market. The economic and
X7 n1 Z' h5 Qfinancial fundamentals driving the residential real estate sector in Canada
4 f" v! X! @6 D+ {3 g- G/ m- qare markedly different than those found in the United States.* b. k8 ^. l* N. ~+ p3 @2 c
7 \2 r9 [0 x$ w, T1 E9 O! F7 Y
Added Soper: "Canada's housing market is likely to outperform the# F8 A b1 Y* m+ B
American market through 2007. A number of factors are working in Canada's
; ~& Q9 H0 c3 Q* E( d' a1 o+ _/ ^favour, including healthy personal and governmental debt levels, the" @( l0 y8 z4 s" {
relatively modest rise in interest rates in our country, and general/ I7 e6 s4 W% z! k1 k
affordability in our major cities. In addition, Americans are now seeing the/ B5 m" C0 R+ ~1 a8 t1 {
downside of a tax system that encourages maximum homeowner leverage, and
1 u s8 L. V n. X. J1 N; Uaggressive financial products such as zero- and negative-amortization
* E' H* ~! i4 Xmortgages that work only in a high price growth environment."
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<<2 V0 y/ u2 d9 Z: v/ l
REGIONAL SUMMARIES# F8 o" _) N5 J A6 o* ]7 D. F
>>6 d- e9 b4 l3 A, G1 b
: z& k3 S1 J, ~% S" w9 Q
Balanced conditions continued to characterize the housing market in
9 Z& v; v. C n' p* `. [8 x: mHalifax, as significantly higher inventory levels helped to moderate the rate
" Q8 i# p* r/ J* P5 L, [8 yof price appreciation. Buyers were increasingly choosy, taking more time, h# N4 m n* n0 T
looking for newer, low-maintenance properties that were not in need of3 m6 L9 ^" i7 N
renovations.
2 i" I Q* V0 y$ o% W G* O. {; V( l- o. b% g1 H! G" @: h
The housing market in Moncton remained healthy and strong as a slight
% K; G/ h5 ^$ V: [, p9 E6 Qincrease in inventory helped to moderate the rate of price appreciation
- }! [7 P4 L! O5 j. mcompared to the same period in 2005. Activity was brisk throughout August and* c0 s7 H5 e; ?9 A2 F
September and is expected to remain this way through the fourth quarter.6 M/ t2 L) ]+ H# J
0 [0 r0 O5 \5 {' Y! _
The housing market in Saint John underwent its traditional summer
$ S4 S9 T: t; t0 K5 qslowdown in the third quarter, with activity picking up towards the end of the5 B; ^4 {3 y/ d; W
quarter. The local economy continued to thrive, as construction on a new5 `2 l% G6 X7 {" C
600,000 square-foot shopping area has begun, bringing several new box stores
/ z9 } L; W% n$ m- q* \) _/ q! J, k Hto the area. Buyers have begun seeking less expensive fixtures for their homes
( r: d$ m- | b4 w7 K, B% q" land are instead opting for more affordable housing options.9 l% r+ A, e5 r; q N( Z. x
( ~- {! c3 }2 W
In Charlottetown, the housing market started to move towards balanced! W0 A2 c9 O1 c9 L) y# I& F
conditions, as some sellers had to begin to lower the asking prices on their" Z7 H4 D6 Q' s% Z
homes to make them more competitive. Activity from out-of-town and US buyers: {6 z$ w+ H b0 E
was down slightly compared to 2005, likely attributable to the strong Canadian8 j8 q8 ` _* i5 T2 G4 Y$ l1 [
dollar. Inventory levels began to creep up in the third quarter, providing
" u: e$ v0 e, n) d1 Xbuyers with more options when looking for a home.: d* o* U5 I! L/ }3 J- |
+ i2 x2 Z( W1 {* T/ w; I
Activity in St. John's slowed slightly in the third quarter, particularly6 {9 f6 @) }9 f1 z0 a5 G
among higher-priced properties, where there was a slight over-supply of homes8 t" n: ]+ P c4 u+ z; ^5 z
priced over $200,000. Listing periods have increased when compared with 2005,
& I1 ?! [7 E1 E- d& Q& Ias some of the pent-up demand that had characterized the market over the last
3 O) \1 S# b1 j, T2 Z# Sfew years has been satisfied, resulting in more normal, balanced conditions.3 P/ y: e) y% x
/ y. y! Z! E( H( G# G3 A6 z1 }/ j: p
Montreal's housing market recorded modest increases in average house6 q$ U2 s" Y$ ^* \9 q& |$ H! c
prices, due to a slight seasonal slowdown in the third quarter as inventory. ?( p T& t/ X4 z
levels rose. Part of this can be attributed to the fact that many renting
5 E2 I( k6 F2 p% r/ d* {2 q' ]" \first-time buyers were motivated to close on the purchase of a home by July 1,0 M+ i X) b0 U6 a3 s2 }
when rental leases expire in Quebec. Once this date has passed some of the
4 E- S; Y$ j; i8 M3 k2 ^: Gpressure is taken off the market, allowing buyers to visit more homes before2 ` ^9 `3 Q& C7 B
making a purchase.
. t3 R: n) G/ I5 }& P1 [
' a; Q. g! L# M8 R) d Ottawa held its position as one of the country's most stable housing' Y' {/ T' J) I% i; G {1 o' s, x
markets in the third quarter, reinforced by a vibrant local economy and strong
2 A. s7 _$ x' {7 W. Q1 g; Rconfidence, resulting in modest increases in average house prices. The city
0 D' d$ F+ R) K/ b3 N' Jcentre remained a bright spot in Ottawa, with homes in this area attracting) h) V% U! M4 t
attention due to their convenient location and proximity to downtown" A# ]1 ~! Z: o' W! M- [+ X
amenities.1 {! }2 P7 ?/ L9 h9 q
/ k5 G2 R( l3 |0 c8 k* f
The housing market in Toronto sustained healthy activity levels9 b% \0 `3 ~7 A& o. v1 ^7 j, _
throughout the third quarter, as a strong economy helped to maintain demand
' n% r, l2 V7 Lacross the city, causing average house prices to rise moderately. Toronto has, E; Z$ n" [: h- e; c8 k0 l8 Z
continued to experience modest growth in average house prices, and has been
7 S/ U/ _+ @: U6 t$ |/ S& h2 adriven primarily by purchasers who are buying homes as their principle. ^ M( e! }; x H; m- y8 G
residence, rather than for investment.: P# X1 Y4 l- {+ L. i; J' L
' I% V% w) F! [! ~1 M) H4 Z The vibrant Winnipeg housing market continued to show its strength as
+ O- {1 f% r7 f( [1 ahouse prices rose during the third quarter. The booming local economy resulted
7 _" T+ v7 m! Qin a historically low unemployment rate, helping to bolster consumer2 B) i Z: m5 q- x1 K- F6 ]2 D* w
confidence and Winnipeg's ranking as the city with the lowest capitalization4 h& Q$ ^5 a4 F! \2 ^
rate among the country's larger cities - helped to encourage buyers to enter
6 ?0 K: Q) y/ Z O# bthe market.+ X6 ~! M8 Q$ o% j/ {6 b$ w
( _% J8 M- y, g* n4 {6 A+ N2 M( P
In Regina, the market experienced a slight seasonal slowdown through [ a9 T) g3 W- o3 P# q( |
July, as there were fewer purchasers in the market due to summer vacations. In
% }- I1 d* c- W0 xAugust, activity resumed to the busy pace previously seen in the spring
$ c# C% S, c/ Z3 [, d7 j# xmonths, as the influx of purchasers made it more difficult to find a home due
b7 E' K, M D* F5 _) nto the shortage of available inventory.# m, C R/ O9 z
$ N! `* Q4 X0 ]: s, v Activity in Saskatoon remained brisk as the market maintained its3 ?% \, ^) R4 G' W1 A
momentum from the busy spring sales period. The economy in Saskatoon remains
9 d5 Q) ~. t6 b: \7 O- n& y/ i |1 n- hvibrant, as employment opportunities are abundant with many businesses
9 K; _! Q8 {; p+ C: ^2 Istruggling to make hires and having to recruit outside the province.& ]9 b5 e6 [# }. c! M, P5 Y
; @( e3 g) `3 Y! b" w, N- Q2 K Calgary's housing market recorded blazing average house price increases/ J' \! z) H. ^8 W$ N7 A
in the third quarter, in all surveyed categories. The burgeoning economy, low
l/ U; n; _7 r9 d" Dunemployment rates and low inventory levels remained the leading factors that/ s3 G1 }, O% r! M
pressured Calgary's house prices upwards. However, regardless of the soaring
- h) ^: W; b% P5 E D7 ?prices that characterized the market - even during the typically slower summer
+ s: n" x5 v/ i# _season - it is expected that activity will become slightly more balanced, as
6 [7 C+ a8 L9 A4 M/ Pbuyers are becoming more reluctant to participate in the frenetic activity.1 d1 A/ S8 r9 @( Z. `
/ Y) r- ~, J( B0 `/ q Edmonton's booming local economy continued to thrive in the third quarter; X9 G* L+ g! @6 Z3 t) ? N
as activity in the oil sands north of the city continued to flourish. Edmonton
& b7 e3 n& N2 Oremained the hub of activity for those coming to work in the oil industry,
* t+ z' m$ N* E$ b1 q' Xmaintaining tight inventory levels across the city, resulting in prices
- c6 R/ u' i- z- | o0 i4 Zincreasing at record levels. However, as inventory levels continued to improve
. N% d8 G' ?4 `* R, ~in the third quarter the rate of price appreciation should moderate slightly+ Y' ~4 e/ {6 R! j
towards the end of 2006.
3 Z$ Y0 u* g' s8 Q, T; n% h- L {, I: d+ |2 {( `
While Vancouver has seen a slight reprieve from the severe shortage of
4 c! e3 X8 y- v" Cinventory that had previously characterized the market, supply is still unable" K# e: e+ `& m3 C+ K& _
to meet demand, driving house prices upwards. Vancouver has a very diverse; @+ |9 z3 V$ J$ W$ L! f. V( h' g- d
group of active buyers - from first-time home buyers to baby-boomers to
) r4 b. o f4 P6 o+ s' t0 Aforeign investors - all of whom fuel the demand for houses, placing added
3 s% a/ H) [* g- C$ H0 p7 n, Lpressure on tight inventory levels.
! ?( G8 q/ Q- W0 }9 I# X/ n) `* p, x5 Q0 J7 l& V" I
Victoria's market is vibrant and supported by strong economic
5 |9 K" c5 ?+ ~0 k) }: Dfundamentals, fuelled by a booming tech sector and a migration of young people2 @4 Z3 q4 f6 e8 L+ s. }
into the city that has continued to support the area's house price increases;- W: F% M% i, q. a1 d7 A" P
while increased inventory levels have afforded buyers more time when searching
3 X1 K; j( k h3 bfor a home, helping to normalize the market's pace.' F% A, @, |4 N
1 B/ W; X5 W5 a, x+ Q <<& Y1 _7 |8 e$ A$ a* g
Survey of Canadian Average House Prices in the Third Quarter 2006
) s1 I6 V/ N# x1 O' t% B. e
, o6 `/ B5 g5 [- _1 g2 ?, X( M5 Z9 u3 [ G -------------------------------------------------------------------------
( }" T! j4 s: ? Detached Bungalows Standard Two Storey
( j) J* o2 H$ u k8 i0 _! p6 J -------------------------------------------------------------------------! Y* h0 F+ K. `0 R5 d0 Q4 B; N
2006 Q3 2005 Q3 Bungalow 2006 Q3 2005 Q3. U$ e9 A( k. c3 n* j: p [# H
Market Average Average % Change Average Average
: _3 L. m1 X7 a2 e2 a' K -------------------------------------------------------------------------
* l" j0 L3 m% n j/ e1 S% A ~ Halifax 186,333 173,333 7.5% 198,667 199,000
/ R, c$ \" @ ^* e \ -------------------------------------------------------------------------* p/ D9 g1 q+ K8 q8 P" F
Charlottetown 145,000 141,000 2.8% 175,000 170,000
; g) y# c( U6 I; h -------------------------------------------------------------------------( n/ z; ]2 y G; x7 i4 ]& }( U5 N& P
Moncton 135,000 127,000 6.3% 129,000 123,000
5 |* x: m8 B" t2 a -------------------------------------------------------------------------
8 z5 n6 Q$ f7 G2 x Saint John 141,200 142,900 -1.2% - -
& `5 q( f& c3 T$ w K -------------------------------------------------------------------------
3 O: ]0 W, R5 J/ P+ ?/ ?$ g St. John's 143,667 142,667 0.7% 200,667 202,333
, z% @" @) ^/ |- g9 o# d( S -------------------------------------------------------------------------6 ?1 a0 Y* ^; v- |9 c, e
Atlantic 150,240 145,380 3.3% 175,833 173,583
9 ?8 d8 S( |+ n/ ` -------------------------------------------------------------------------
' l Y' u+ x7 a! M l5 b! C4 K Montreal 213,691 203,500 5.0% 321,141 316,185: e G7 \$ {' e, X/ ^! X% E) { M
-------------------------------------------------------------------------
+ w6 c1 o- F5 D" Q; m9 F, ~ Ottawa 290,083 278,417 4.2% 285,667 273,250+ J3 t6 ~- H3 ?& N( |
-------------------------------------------------------------------------! j, \) k" i9 ~3 T
Toronto 373,368 355,882 4.9% 481,523 474,766
1 R( d: M4 _7 G/ D& q* D -------------------------------------------------------------------------
) y+ G+ S2 B/ ]3 f Winnipeg 181,579 159,860 13.6% 202,337 180,707
2 h5 S9 P t- s7 C7 \ -------------------------------------------------------------------------
t/ L* _# _% U6 D Saskatchewan 170,667 156,083 9.3% 182,600 166,500
" G& M! t% v8 l4 D6 _# [ -------------------------------------------------------------------------; }) `1 Q3 A6 m* M5 \$ }) g
Calgary 395,067 252,411 56.5% 405,778 264,389
/ O. W2 y4 `5 }$ _" C$ \, R1 }4 I. B7 y# p -------------------------------------------------------------------------. F0 [( @. |; K3 E4 [0 `
Edmonton 286,857 194,857 47.2% 316,429 206,714
5 O5 A2 P' _7 I -------------------------------------------------------------------------
/ _& o }( {- a/ B" A4 R Vancouver 704,250 601,000 17.2% 794,000 697,500# S8 N4 D1 |/ w: p
-------------------------------------------------------------------------9 \' A- I: l2 C; }! Z+ D+ O
Victoria 375,000 348,000 7.8% 403,000 391,000' O! r% m+ j/ l& b# O+ E. _
-------------------------------------------------------------------------/ e0 Q, o, ?0 G# T
National 300,365 258,202 16.3% 365,380 322,860
! y, p! m7 }0 R -------------------------------------------------------------------------3 z7 ]' H* n$ n6 Q
+ Z7 L1 u/ x$ ?% J5 m* `
-------------------------------------------------------------; L+ B8 o I3 c8 ^1 ^& ]4 s8 a" @& U
Standard Condominium
8 B. J0 k+ `/ t2 h2 V -------------------------------------------------------------
! a6 @0 T# a, `% D$ Y% L 2-Storey 2006 Q3 2005 Q3 Condo* c" L" t8 c4 L* S4 _( Z& v9 x
Market % Change Average Average % Change+ M! d$ K! R; [) g
-------------------------------------------------------------: i5 }. K9 y9 }' }9 A$ d. g) ~
Halifax -0.2% 142,000 103,000 37.9%
$ b/ S, r& u- r. B. H% Y% a -------------------------------------------------------------! M3 {& x" `2 T# g5 X$ x
Charlottetown 2.9% 98,000 98,000 0.0%' J }2 _+ a w
-------------------------------------------------------------
/ J1 C) _ f* n u6 @0 h( { Moncton 4.9% - - N/A: O( _; b% q( E
-------------------------------------------------------------
" o6 V* S8 d- j. T: p& v9 v& y Saint John N/A - - N/A5 F6 U( P" G3 e$ m+ T; L
-------------------------------------------------------------
_! `/ x( z% ]: k g) i' D5 w St. John's -0.8% 146,333 145,667 0.5%4 x5 |7 R' E" P1 P9 `3 H8 T
-------------------------------------------------------------. O3 {! ]; k1 z8 ]' U7 p8 v- J
Atlantic 1.3% 128,778 115,556 11.4%1 S4 V2 t$ \. v2 T8 Q9 b
-------------------------------------------------------------4 F6 L" Q, G: v8 P+ A7 L
Montreal 1.6% 193,190 188,016 2.8%$ a y7 B/ p6 I9 y! C% o
-------------------------------------------------------------
# A8 m( p' m# A3 F Ottawa 4.5% 181,083 172,250 5.1%
. q: Z3 p, p4 ^6 V -------------------------------------------------------------
) g" k9 k( }9 `& v& E$ t! R! j Toronto 1.4% 252,088 242,918 3.8%% {4 T( d% Z" Q2 i. F8 x
-------------------------------------------------------------
) G' ^, l; g5 H% f P# [" p+ z Winnipeg 12.0% 105,648 96,008 10.0%
1 S' `9 r5 x0 i: k -------------------------------------------------------------5 r9 D' D2 o6 d1 s/ E4 e9 P/ I0 r
Saskatchewan 9.7% 106,250 101,000 5.2%
3 W" [" A; ?" x. D -------------------------------------------------------------
6 S# H! L) s) D Calgary 53.5% 245,844 153,867 59.8%
) G6 D$ p5 u8 P& _ -------------------------------------------------------------
, s* _1 l; E; l2 t Edmonton 53.1% 200,433 131,500 52.4%
# R# _& n+ z# p! A1 S% N3 X -------------------------------------------------------------
8 n. f. H0 \/ P- D( X0 ^ Vancouver 13.8% 366,250 323,250 13.3%9 ]/ X {. q1 U, |5 `- o
-------------------------------------------------------------
, ~" H/ V& s. j$ b4 w% F% H9 _ Victoria 3.1% 229,000 220,000 4.1%
! x2 j. N* M l! w5 a -------------------------------------------------------------
" f# M, C% D! g5 z& T National 13.2% 211,562 185,296 14.2%0 h! q/ a9 b& A; t' P
-------------------------------------------------------------+ ?& [2 F1 `! G/ T& D T4 M4 S* f
>>
" A; ? v' D" h, a! d4 T9 f- l2 Y7 k* \# ~8 Q% D+ O( h
Average house prices are based on an average of all sub-markets examined
3 b5 W9 }1 R) m' y. {in the area, except for the smaller markets of Charlottetown, Moncton, Saint* H* x2 _+ S8 V! S) c) f0 Z: T0 p
John and Victoria.: y% T5 k8 J3 z( u) a- g( r% {
6 W4 [. q+ r- |# J% |/ Q
The Royal LePage Survey of Canadian House Prices is the largest, most
$ j1 G+ l2 j% F4 ` z8 K) h) L' dcomprehensive study of its kind in Canada, with information on seven types of
9 A: x: B, O8 U/ \; hhousing in over 250 neighbourhoods from coast to coast. This release, U3 C, _' `0 ^! e" h
references an abbreviated version of the survey, which highlights house price
$ d) J( v K |0 W% x9 v) Htrends for the three most common types of housing in Canada in 80 communities! W' r# m) m2 s# \
across the country. A complete database of past and present surveys is
: y! W, M4 R+ J4 _available on the Royal LePage Web site at www.royallepage.ca, and current
* G' z0 i$ P, M1 \3 y; zfigures will be updated following the end of the third quarter. A printable
. S; d+ l- w8 z# m( N9 eversion of the third quarter 2006 survey will be available online on/ N0 a/ c( ?' V5 I. ]
November 15, 2006., C: d! Z/ N0 B
Housing values in the Royal LePage Survey are Royal LePage opinions of* i, X7 P* @: y5 q' F1 V
fair market value in each location, based on local data and market knowledge
. z7 }3 [3 _; D1 A0 i( ~9 Jprovided by Royal LePage residential real estate experts. Historical data is
% t3 ?! e8 c, Y( E9 @: Zavailable for some areas back to the early 1970s. |
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