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Canada's housing market both vigorous and stable 6 R J( G' e& w2 ^# `& H3 g a
5 ^- Z) Y1 g& r6 z4 B
- Country's market poised to show growth throughout 2006 -; n5 I* W/ P4 h3 |
7 f- _, z3 I) g' `0 o6 {
TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
( C& z0 V9 W& E3 u0 A5 Vexhibited moderate price increases and stable unit sales during the third
. P- D. I" n! _% N- k1 uquarter. Wide regional variances continued to be the dominant characteristic
: R. _/ z" D2 Xin the market, exemplified by frenzied levels of activity and double digit
5 ` F% @. b2 b0 [' Aprice gains observed in the energy and commodity rich Western provinces, and: e8 R% K" y4 G4 p7 o1 {& ^
more reasonable sales volumes and moderate price appreciation in Ontario,, N6 T$ ]4 D r. V& ^" B
Quebec and Atlantic Canada, according to a report released today by Royal
& B& y9 K5 r; p6 \; d1 ELePage Real Estate Services.2 C$ p$ R2 A9 _- ^/ x A+ C( {1 Q. x; ~
0 v2 m- t0 }) q: [% y1 S: ~
Nationally, market trends established through the first three quarters5 B: r* p+ D- k2 c; T/ [& a
are forecast to continue for the remainder of the year. Robust economic
' s. Y2 V2 j7 }- m- d" Cconditions, low unemployment rates, modestly growing salaries and wages, and
$ X* C# z+ ~9 C; J/ j+ e) F' Usound consumer confidence contributed to the overall strength of the
& A! r8 x. E& g7 g8 Q2 ^9 S1 nresidential real estate sector.
j3 F X9 s3 B3 r* G1 }3 y6 R
/ y0 Z! q2 s6 I; c Of the housing types surveyed, the highest average price appreciation
0 }7 B/ @0 \* Z% Q% ^occurred in detached bungalows, which rose to $300,365 (+16.3%)# N7 B9 v5 `5 A& s; C, B; E
year-over-year, followed by standard condominiums, which rose to $211,562
7 m H: F: y0 ^, F/ A- H(+14.2%), and standard two-storey properties, which increased to $365,380
( x# n' N. l; b! T(+13.2%).
* J& x" }" N9 L) C6 o' X- C% s0 R6 w' g. D
"Canada's sturdy housing market continued to demonstrate steady growth
0 z) {) y8 N+ [- ]' r5 L1 g5 A2 Hduring the third quarter. For all but the west, we have moved on from the
) U; I% Z: ^# Pfrenzied expansion that characterized the first half of this decade, and are
& |) H5 Y" O2 E$ [$ G- vpoised to show continued growth at a more moderate pace," said Phil Soper,. v1 P2 `% p3 F9 A, V% b( F
president and chief executive officer, Royal LePage Real Estate Services.
. \9 i' a8 a3 e3 U/ e6 [$ ^& J"Gone is the sellers' market that we have lived with for some years. We9 w* }5 r- L$ M5 p* t& b
welcome the more reliable conditions that are characteristic of a healthy
/ X/ |* m6 i8 q D' Abalanced market."8 w. O4 o+ f$ u$ Z# @1 D
2 t8 s( J& P8 t Despite the double-digit rise in average national house prices,/ q$ }+ J* @5 f! P
considerable regional variances were exhibited again this quarter. The shift
; ~7 S% W, m- h+ v* i+ eto balanced market conditions, which began in late 2005, has continued
* z2 j$ f5 l' Qthroughout most of the Central and Eastern regions of the country. In the core5 C7 y( P( N, o6 r/ {7 w3 u3 @+ ]
energy producing western provinces, the combination of very high in-migration," H1 J# j4 E9 M* C- |- m
manageable affordability, and a shortage of inventory has driven record! Q" {8 y; G- x
breaking price appreciations., v' y) O+ I( P9 `
* ?5 |; |1 T( w) `. V" ^6 T Echoing the second quarter and supported by Alberta's rapidly expanding" z% e5 Y+ W2 Q$ s/ [
economy, Calgary and Edmonton led the charge of Canadian cities with the4 `+ ^5 @ \& y& O6 c
largest house price appreciation in all housing types surveyed.
) s" n, H! [) l, V8 T' W. R, p4 f [& a2 S j/ t$ @0 s
In Ottawa and Toronto, growth remained steady, supported by solid
$ i" N( C* `" \9 D) `5 Qeconomic fundamentals, an increase in available inventory and strong consumer
7 X( S9 B" X' l) Kconfidence. While the pace of price appreciation in Ontario leveled off
, |: D1 X) x1 h& `6 N) Q/ t+ bslightly, the province's real estate market remains poised for modest growth./ |9 G2 @* C# m+ P- G
In Atlantic Canada, new housing and condominium construction offered buyers
1 N) K) r, n9 q# H; ggreater selection at more competitive prices, resulting in a slower rate of
! E5 f# D, a5 \; n0 m/ C% Gprice appreciation when compared with 2005.
9 p& |; W; f: c$ Y" T" c! v5 y% c$ D
While the pace of growth in Canada has slowed, the domestic housing
. z! u! J# O( imarket is expected to outperform the American market. The economic and* b! d# [ G! K# N O+ f/ B
financial fundamentals driving the residential real estate sector in Canada+ B0 e y O1 T/ h6 d
are markedly different than those found in the United States.- }1 I2 X: q# E+ x1 _2 m
- ^0 h" S3 z: `% Z7 ^
Added Soper: "Canada's housing market is likely to outperform the
# ~" ]: ~8 G/ s! q8 EAmerican market through 2007. A number of factors are working in Canada's5 w5 j$ y' G; ]: x% P- B$ b
favour, including healthy personal and governmental debt levels, the t/ S7 r/ K8 A. h. f
relatively modest rise in interest rates in our country, and general) y6 t! Z1 b; U) e8 J! A' p* l
affordability in our major cities. In addition, Americans are now seeing the
7 a: S! E6 \* A* ^downside of a tax system that encourages maximum homeowner leverage, and
: l) I+ B/ T3 Daggressive financial products such as zero- and negative-amortization
; V; N; f$ F7 ?- zmortgages that work only in a high price growth environment."9 \' I6 G6 ~! e
$ a1 i, a) W. C* [+ ]3 g8 L <<9 N% O" h$ I" d' c( W) G }
REGIONAL SUMMARIES" J% O8 {5 Z3 H
>>
) z) h! \# G: r1 o8 U, q4 B) n& K1 F# K4 [5 o' b2 X
Balanced conditions continued to characterize the housing market in
6 U4 {- P8 u. `( ^: uHalifax, as significantly higher inventory levels helped to moderate the rate
Q9 T6 e8 a! N% [: I( m) `' {+ ?9 b4 D- zof price appreciation. Buyers were increasingly choosy, taking more time/ [9 N2 c) ]3 U% b( n1 t
looking for newer, low-maintenance properties that were not in need of
5 g, h9 t' t& P; srenovations.4 ~% F# V `5 q8 J6 {6 c
4 Z6 A2 X# \* {
The housing market in Moncton remained healthy and strong as a slight: w8 p/ W: l( K* V7 m$ T, c
increase in inventory helped to moderate the rate of price appreciation8 i) v; B" R4 ? j
compared to the same period in 2005. Activity was brisk throughout August and
2 E% S8 c7 x# c, rSeptember and is expected to remain this way through the fourth quarter.* q( h2 `6 r0 f' t4 e2 q, V% D
" C4 B9 `1 `9 H: _: x" A
The housing market in Saint John underwent its traditional summer0 ~- j ]1 o$ ]+ q/ g @
slowdown in the third quarter, with activity picking up towards the end of the% p; E0 ]! Q% W" P3 A8 i
quarter. The local economy continued to thrive, as construction on a new: Q6 i% O. Z& g6 ~- x1 ]; c
600,000 square-foot shopping area has begun, bringing several new box stores
; W* g, T5 O, ]3 C" n. eto the area. Buyers have begun seeking less expensive fixtures for their homes7 J( x& J. S+ P: Y4 w% Q( P$ L
and are instead opting for more affordable housing options.
/ ?! G, `) z! G9 ~$ f' h! \9 a
A7 u) `9 r- y, M; ]2 U6 J In Charlottetown, the housing market started to move towards balanced* `: z6 d$ ]0 [4 b# X8 M' f4 a
conditions, as some sellers had to begin to lower the asking prices on their, l7 w2 j/ P8 a, I4 l+ I
homes to make them more competitive. Activity from out-of-town and US buyers
+ O7 m8 Y: \' X8 A8 jwas down slightly compared to 2005, likely attributable to the strong Canadian
/ H6 R1 Y* u" R$ D0 q8 Fdollar. Inventory levels began to creep up in the third quarter, providing" B4 s4 ?6 D* S# X C0 ~
buyers with more options when looking for a home.
; ]" m; ]+ v+ `; O+ O, o
. B: m- k+ a" M Activity in St. John's slowed slightly in the third quarter, particularly& L! O, g% I5 o8 D
among higher-priced properties, where there was a slight over-supply of homes7 n3 ^* A/ ~0 d2 h; [" ]
priced over $200,000. Listing periods have increased when compared with 2005,
( t8 O$ P Y" ]( uas some of the pent-up demand that had characterized the market over the last+ \; a4 C* x o4 I4 R
few years has been satisfied, resulting in more normal, balanced conditions.1 ?9 {+ l3 p1 N4 O
6 q& v* j* U# c1 m& ]$ C Montreal's housing market recorded modest increases in average house
0 M$ G6 ^( X# U, A vprices, due to a slight seasonal slowdown in the third quarter as inventory
P2 {1 S* e; |) _levels rose. Part of this can be attributed to the fact that many renting" H0 W7 M7 x4 L! [
first-time buyers were motivated to close on the purchase of a home by July 1,# X; n/ _2 q9 F0 V$ F0 V& o" Q
when rental leases expire in Quebec. Once this date has passed some of the, h1 P$ a) E# M# |" J/ @2 J" w
pressure is taken off the market, allowing buyers to visit more homes before( j, K$ W7 f7 S* s* c: p# k! @
making a purchase.
% ]6 z$ x+ B! l/ ]$ T
5 L% w, f/ d8 N) l @9 m# ~ Ottawa held its position as one of the country's most stable housing
- _; R+ P8 [$ l) {6 v# Nmarkets in the third quarter, reinforced by a vibrant local economy and strong
( w( i& a( g3 ?confidence, resulting in modest increases in average house prices. The city" y( ~& P7 V6 P$ _7 y3 W( z
centre remained a bright spot in Ottawa, with homes in this area attracting
* o' N& f& n- s" Fattention due to their convenient location and proximity to downtown1 r; X3 K- M. W7 S0 K0 K
amenities.( `6 d# ]" J3 u) |
% B( Z; p* c$ X2 K/ g* j2 w8 T The housing market in Toronto sustained healthy activity levels
4 e4 d5 ]8 c6 K) L' A9 ~- W) dthroughout the third quarter, as a strong economy helped to maintain demand
7 R& }2 m1 e# o& G0 T# m- C7 H0 Jacross the city, causing average house prices to rise moderately. Toronto has
* ^3 D8 H4 h" r/ V Vcontinued to experience modest growth in average house prices, and has been
3 E! w# E: [5 ~* sdriven primarily by purchasers who are buying homes as their principle0 ~' F4 p+ R9 v0 C6 _4 t
residence, rather than for investment.
* G- ~3 D, G- u9 d3 t7 e1 F) C& A; ?# z( w$ _2 ?1 l0 S! E
The vibrant Winnipeg housing market continued to show its strength as4 j* A9 y/ |3 ^* C7 J
house prices rose during the third quarter. The booming local economy resulted: h E; t+ @% l# e
in a historically low unemployment rate, helping to bolster consumer
4 O8 r( H6 f2 w/ Y7 |confidence and Winnipeg's ranking as the city with the lowest capitalization* x. D7 k0 } s9 w& s
rate among the country's larger cities - helped to encourage buyers to enter: i4 I2 e/ H1 Z3 o6 N1 }: b! Y
the market.+ ? V9 T% z/ M1 a% N/ `5 d
& X% y* _" H) }+ O1 |' U7 A# i
In Regina, the market experienced a slight seasonal slowdown through, U$ n5 Y! g) _. o. J. k/ O
July, as there were fewer purchasers in the market due to summer vacations. In4 y: j, ^/ X0 J8 k2 A" L1 y' B
August, activity resumed to the busy pace previously seen in the spring
7 R1 @& i4 l# Xmonths, as the influx of purchasers made it more difficult to find a home due1 a* F3 {' r' v, W9 S, _ [3 r8 O
to the shortage of available inventory.5 E* W; e' A0 k1 K# T" x) Q
6 @# b* ~& C2 v Activity in Saskatoon remained brisk as the market maintained its. j. S9 z, B3 Q1 Y4 N( H) f
momentum from the busy spring sales period. The economy in Saskatoon remains) b' k$ n# q6 c. q$ K, F- j
vibrant, as employment opportunities are abundant with many businesses: K. i# n: |; q6 d% }3 g
struggling to make hires and having to recruit outside the province.4 p/ c7 X- `/ ^8 U+ h9 H; q
3 f% W& j& `! A* ~4 ^ Calgary's housing market recorded blazing average house price increases
; q# ~6 O- f/ F9 l2 _0 [1 din the third quarter, in all surveyed categories. The burgeoning economy, low
8 i0 S$ C. X6 X% _2 X9 wunemployment rates and low inventory levels remained the leading factors that$ R. S& G9 e7 F5 M- a1 H. X& U- s/ s9 k
pressured Calgary's house prices upwards. However, regardless of the soaring
" J" c2 ]6 z: Y5 \& \( m7 Jprices that characterized the market - even during the typically slower summer
* e4 e+ s# W7 S# ^season - it is expected that activity will become slightly more balanced, as0 s. V! F$ H6 c/ P1 f& F+ b
buyers are becoming more reluctant to participate in the frenetic activity.
. ~2 S- [/ P: `; Z0 m. U. {8 v" P
2 ~( j7 k$ s8 x/ o Edmonton's booming local economy continued to thrive in the third quarter/ u8 U7 w7 P8 {3 P7 Z
as activity in the oil sands north of the city continued to flourish. Edmonton5 p8 P- b4 B1 X2 Z2 W
remained the hub of activity for those coming to work in the oil industry,
+ z8 C8 e( [% K6 _maintaining tight inventory levels across the city, resulting in prices
( ~) S( Z1 E# X: ?increasing at record levels. However, as inventory levels continued to improve
7 P d# s% @/ N- N3 `2 Gin the third quarter the rate of price appreciation should moderate slightly+ H" G8 \( d' m6 a# }8 y
towards the end of 2006. ; J( s5 W1 T% P9 x! e
( [; Y2 E! F$ ^$ a! }
While Vancouver has seen a slight reprieve from the severe shortage of
+ H# T [2 H* D* ~inventory that had previously characterized the market, supply is still unable! K$ d0 b1 q- T
to meet demand, driving house prices upwards. Vancouver has a very diverse
. c4 z2 D+ s4 G8 q) V+ x+ S3 vgroup of active buyers - from first-time home buyers to baby-boomers to$ @/ w1 S$ s+ y
foreign investors - all of whom fuel the demand for houses, placing added
5 @/ h% V9 y. e4 Jpressure on tight inventory levels.% [9 C8 l% c: F% L
: s0 P! }1 `* S; i4 I! C" _
Victoria's market is vibrant and supported by strong economic
$ m0 @$ I) t6 K" ifundamentals, fuelled by a booming tech sector and a migration of young people
" ^# P& k/ ]- S) V% N# j% N1 einto the city that has continued to support the area's house price increases;
/ l! x6 q; ]8 }8 ?$ Awhile increased inventory levels have afforded buyers more time when searching
& B+ S I1 j E8 @6 Ufor a home, helping to normalize the market's pace.
* @: d a2 f0 \6 H0 s3 `5 V `3 g- W9 p& y' v t
<<3 _: h9 n8 Z. r- i2 H
Survey of Canadian Average House Prices in the Third Quarter 20068 l+ e B3 e; k
" S3 |6 b' G* _' ` o& ~% o+ i2 }8 u
-------------------------------------------------------------------------
% a" Z+ m+ h$ Y, H) M* i Detached Bungalows Standard Two Storey
, j0 G+ O/ }- J* ^ u2 T G -------------------------------------------------------------------------
8 ~+ {% H L |7 P- m( A" L5 b 2006 Q3 2005 Q3 Bungalow 2006 Q3 2005 Q3" {5 H! c; `" [# ]
Market Average Average % Change Average Average
! _" P2 y6 _7 |9 P V- Q* [ -------------------------------------------------------------------------
+ ^" }5 ~' n0 L% W, p Halifax 186,333 173,333 7.5% 198,667 199,0007 M' H: l: t6 W3 ]$ ]$ I# J+ X
-------------------------------------------------------------------------: z9 p, U& `- z) X
Charlottetown 145,000 141,000 2.8% 175,000 170,000$ A t$ b) {# Q! {' ~! ~
-------------------------------------------------------------------------/ {7 M4 l" t8 u6 t
Moncton 135,000 127,000 6.3% 129,000 123,000
% e) C* A4 H4 w& X& B( ?& d0 \+ W -------------------------------------------------------------------------) S5 r, q A* A* I$ b& |
Saint John 141,200 142,900 -1.2% - -2 W; J8 Q4 O* a1 a B; _7 j) K0 z
-------------------------------------------------------------------------& V% a, z9 K z. k
St. John's 143,667 142,667 0.7% 200,667 202,333
/ N u- C/ q6 Z: `. R6 k -------------------------------------------------------------------------
: f6 |8 r+ G: m [' N Atlantic 150,240 145,380 3.3% 175,833 173,583) M. f8 I5 m" {+ i1 d
-------------------------------------------------------------------------
! c/ s+ ?. ]: G2 f Montreal 213,691 203,500 5.0% 321,141 316,1855 j, z# u9 U1 k. D+ K
-------------------------------------------------------------------------" c! a" c0 ^$ z) [3 @: H! I4 b: m
Ottawa 290,083 278,417 4.2% 285,667 273,250& C6 N) I2 O/ N B! c) R& S
-------------------------------------------------------------------------
, Q# Q0 x6 p; I9 Y Toronto 373,368 355,882 4.9% 481,523 474,766) `/ o' Z: U3 A% C
-------------------------------------------------------------------------1 }0 O5 Q$ R+ v: [5 t$ ~3 S
Winnipeg 181,579 159,860 13.6% 202,337 180,707& C7 H; Y' q0 a& h
-------------------------------------------------------------------------" |5 {, w) W% ^+ u8 C, ^" p; a9 z( x
Saskatchewan 170,667 156,083 9.3% 182,600 166,500
. r" r7 G* H$ V/ F6 h -------------------------------------------------------------------------
4 C1 F# y& ^& e1 C$ y Calgary 395,067 252,411 56.5% 405,778 264,389) \; b2 Z7 y, s D- i
-------------------------------------------------------------------------/ m$ l# a9 c$ s8 L; u* f5 k
Edmonton 286,857 194,857 47.2% 316,429 206,714
; i+ S) |- U5 ?- _, P, G -------------------------------------------------------------------------
W. p/ u% M3 c# F2 S" y Vancouver 704,250 601,000 17.2% 794,000 697,5000 s* @9 Y; L' V" g5 i
-------------------------------------------------------------------------
; r& F) V6 s0 B( P5 d( s Victoria 375,000 348,000 7.8% 403,000 391,000
* P2 K" d' b: `. n -------------------------------------------------------------------------
2 V" U" g1 v, G2 T' g* } National 300,365 258,202 16.3% 365,380 322,860
% y' A- P3 l! y3 I -------------------------------------------------------------------------
: G+ h1 l( F O. V$ C0 _% f+ O3 C6 u! o% `
-------------------------------------------------------------5 C3 R. W" o4 n* i3 O( q) V7 M) W
Standard Condominium) x* L: l9 c$ d# Q
-------------------------------------------------------------
/ G* i4 _2 s2 U 2-Storey 2006 Q3 2005 Q3 Condo9 @! S* u$ C% K( u# I8 o
Market % Change Average Average % Change
* i' q$ [. z% P! T; e/ c -------------------------------------------------------------8 z0 C" M1 _) t( P6 [
Halifax -0.2% 142,000 103,000 37.9%5 p0 X, O# I; U+ K* c
-------------------------------------------------------------& j' q7 i @3 L4 ^- d( A
Charlottetown 2.9% 98,000 98,000 0.0%! ]6 Q+ b# U. T0 I. M
-------------------------------------------------------------
. I" |9 K U" H8 B2 i# H4 ?; k* e# q Moncton 4.9% - - N/A% A) U) ^3 J& ], [, a8 j
-------------------------------------------------------------
& s& R' P" q/ _. ~# W' l Saint John N/A - - N/A
2 E; R# A( p( O1 l5 t -------------------------------------------------------------3 U3 m/ E" M4 J' b4 R; G% H' U
St. John's -0.8% 146,333 145,667 0.5%
( w& s% d6 V7 K8 p& A -------------------------------------------------------------
4 `# j- o# l6 p0 G Atlantic 1.3% 128,778 115,556 11.4%
) O; I* z7 H1 g2 u6 a& d$ n -------------------------------------------------------------" G/ j) ? P r- G7 h- L9 F Z
Montreal 1.6% 193,190 188,016 2.8%
7 k3 K' _4 G! M: q0 T: X -------------------------------------------------------------6 }4 S' q& J) B
Ottawa 4.5% 181,083 172,250 5.1%
+ l/ c2 y; B% t2 D) G/ F' C J -------------------------------------------------------------
; d1 A2 S6 V" P3 t( \, C Toronto 1.4% 252,088 242,918 3.8%
; \ }% g7 B( V& c0 [; {) y -------------------------------------------------------------
; j8 q* ]6 B" T& b" w/ R0 |& T Winnipeg 12.0% 105,648 96,008 10.0%6 V- y/ I0 x6 E' X
-------------------------------------------------------------& k; ^$ I* U0 [8 e9 C5 e
Saskatchewan 9.7% 106,250 101,000 5.2%
9 V+ V+ @8 Y0 ^9 T Z2 S -------------------------------------------------------------4 `+ z, F! Z' P) T
Calgary 53.5% 245,844 153,867 59.8%9 K' y4 X' M; Y# p
-------------------------------------------------------------* E0 W1 S' l/ I) W5 l7 T
Edmonton 53.1% 200,433 131,500 52.4% f# ]' Y* k% s8 y2 q/ p* F/ N# k
-------------------------------------------------------------; T6 W. ^ M% {9 }& u$ j
Vancouver 13.8% 366,250 323,250 13.3%1 ?% j u; q H7 ?, B
-------------------------------------------------------------( N; C0 }! m" a8 K7 s
Victoria 3.1% 229,000 220,000 4.1%
3 x3 d! O p- a -------------------------------------------------------------% d2 O1 y1 ~, g3 ?7 M: k9 f
National 13.2% 211,562 185,296 14.2%
1 F; q/ d4 |! Y$ n8 D: L -------------------------------------------------------------
- r! S) W4 s' h# } >>
1 j3 s1 S5 f3 u* D
; d" _) O" f+ Z/ K# G8 D" W Average house prices are based on an average of all sub-markets examined5 `$ |* @& p6 p% X
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
- I( V& h* q+ m8 P' [5 B) dJohn and Victoria./ |' j7 U _+ ^$ \ F5 T- l8 u
, R$ g+ V8 v$ F) n$ T The Royal LePage Survey of Canadian House Prices is the largest, most" n8 C) A, ?- h$ Y2 j
comprehensive study of its kind in Canada, with information on seven types of
@7 Z$ x7 b, D0 o+ b2 [housing in over 250 neighbourhoods from coast to coast. This release) Y/ ]( G6 e; G R/ J! m: b' [
references an abbreviated version of the survey, which highlights house price# y O6 ^! m( I) u& C5 P
trends for the three most common types of housing in Canada in 80 communities
+ ~3 ^/ m0 q3 V4 R7 nacross the country. A complete database of past and present surveys is
3 m# X& Z/ A3 ]# havailable on the Royal LePage Web site at www.royallepage.ca, and current$ Q( `# A; g6 U0 z
figures will be updated following the end of the third quarter. A printable
5 U1 l5 M( O. z+ A0 Kversion of the third quarter 2006 survey will be available online on4 { k+ \/ p" U4 Q! q& A/ m6 y+ ?
November 15, 2006.8 D0 x5 Q" [+ F
Housing values in the Royal LePage Survey are Royal LePage opinions of
/ b- T6 h# s, j; U8 v/ h6 F; g- Gfair market value in each location, based on local data and market knowledge
5 u3 D* J+ A, {( }. y- lprovided by Royal LePage residential real estate experts. Historical data is
. \5 _% t" u! R3 Lavailable for some areas back to the early 1970s. |
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