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Canada's housing market both vigorous and stable
: t! Q V" Z* f! F# L& d
- |4 @, \6 K* M+ R- Country's market poised to show growth throughout 2006 -
0 u- k8 R+ |* M7 {7 R6 |' T( D
/ E6 B* n/ A" D2 j) n) t! Z) I- c) V TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market( o- n( K4 N6 _$ c+ M
exhibited moderate price increases and stable unit sales during the third
+ D' n& a5 {7 Z, Lquarter. Wide regional variances continued to be the dominant characteristic
3 W: ^; S' [: _% h, R; E3 rin the market, exemplified by frenzied levels of activity and double digit c; @- Z1 J1 h8 v# v3 M9 y
price gains observed in the energy and commodity rich Western provinces, and! q2 J6 X" r" u& m, x& X
more reasonable sales volumes and moderate price appreciation in Ontario,
0 d' h6 ?! d# l% J& bQuebec and Atlantic Canada, according to a report released today by Royal
! d4 Y1 }- L2 N6 k, L; H/ L2 SLePage Real Estate Services.5 M, `- @" @# t2 J) T% ~
' b/ n9 }5 I, J2 T6 I r Nationally, market trends established through the first three quarters
7 O/ S' m+ G$ O' @3 j0 n: {% c% Qare forecast to continue for the remainder of the year. Robust economic
* ?. K& M. }7 n! ]2 y3 tconditions, low unemployment rates, modestly growing salaries and wages, and% K O$ `5 B$ j: X3 M% s
sound consumer confidence contributed to the overall strength of the
: m* Y1 b) B4 G3 n5 g& s6 [8 vresidential real estate sector.
[% O x$ h8 T% i8 c; i
2 Q+ Z) k, [4 ^+ i Of the housing types surveyed, the highest average price appreciation
+ _4 b4 ]. N; S$ F! Doccurred in detached bungalows, which rose to $300,365 (+16.3%)$ D. c5 ]3 [5 r2 O; R8 P
year-over-year, followed by standard condominiums, which rose to $211,562
+ m) r' |9 \6 o* d$ ?& V0 u(+14.2%), and standard two-storey properties, which increased to $365,380! b# r2 X* ^% I1 e* T
(+13.2%).6 B2 A( `: c4 u2 N+ w! [0 \
$ n9 [4 H6 k% w
"Canada's sturdy housing market continued to demonstrate steady growth
2 C4 C( C0 C2 g( C! r" ]; m* jduring the third quarter. For all but the west, we have moved on from the
, b0 H* m F" X+ ?' |frenzied expansion that characterized the first half of this decade, and are
K3 i7 U7 l7 d+ K# ppoised to show continued growth at a more moderate pace," said Phil Soper,$ G' U+ z7 k# U
president and chief executive officer, Royal LePage Real Estate Services.2 E( V0 {& @, M/ F% @" H# ^% E
"Gone is the sellers' market that we have lived with for some years. We+ R% i) ]. }$ G% c: h+ _1 ~/ }
welcome the more reliable conditions that are characteristic of a healthy
5 ?$ g$ W) @2 z) G9 _4 l/ L% Jbalanced market.") I" ]7 t2 L! h! a
- D# q# U# Q% I7 y4 T& ?5 J2 t
Despite the double-digit rise in average national house prices,) i( D9 L% L- v F, N0 X9 u) ?$ v
considerable regional variances were exhibited again this quarter. The shift
j0 I+ ~, }- V3 y: W. Qto balanced market conditions, which began in late 2005, has continued3 K+ A9 P0 k- h% r4 J' A* K2 N
throughout most of the Central and Eastern regions of the country. In the core1 M5 Z) Q1 _& O! `. z3 }. V: i
energy producing western provinces, the combination of very high in-migration,
! Z+ N, |! T9 n3 G1 tmanageable affordability, and a shortage of inventory has driven record; P. g8 X8 ]2 o, z, L$ n; l9 d2 A
breaking price appreciations.3 ]& ^$ F5 G j/ S
4 j( B; c4 w& l1 ]# b6 d: h Echoing the second quarter and supported by Alberta's rapidly expanding3 P' X5 d, q" u5 Q A
economy, Calgary and Edmonton led the charge of Canadian cities with the
9 A5 H3 @5 B/ e, i4 h; i0 ilargest house price appreciation in all housing types surveyed.
: q2 T4 p; h, q$ w5 [6 Z8 v" j- {1 k$ {& {- [
In Ottawa and Toronto, growth remained steady, supported by solid/ K' v0 d0 ^( H8 m
economic fundamentals, an increase in available inventory and strong consumer
B1 M0 u+ r$ H+ M- R7 nconfidence. While the pace of price appreciation in Ontario leveled off' W: d4 u1 I( Z8 g
slightly, the province's real estate market remains poised for modest growth.2 [3 _1 A5 T7 b
In Atlantic Canada, new housing and condominium construction offered buyers
E5 W- v4 j' J1 K% {. F& w5 Pgreater selection at more competitive prices, resulting in a slower rate of# p5 y; T/ ^! K0 p
price appreciation when compared with 2005.. x/ C% D3 }* G3 I9 F1 R
& o7 p! M( F6 i) e% ?4 c: K* G6 w2 e While the pace of growth in Canada has slowed, the domestic housing- e q! K4 i: {- y {0 \3 ^9 H* E
market is expected to outperform the American market. The economic and
( |: X/ {2 K4 l+ bfinancial fundamentals driving the residential real estate sector in Canada6 p" I) ]" T4 V- | q3 P% f
are markedly different than those found in the United States.
: P9 [* w+ p; _( X* ^
! O; {$ d2 J6 Y1 ]% {; ? Added Soper: "Canada's housing market is likely to outperform the
$ ^: i& o8 I$ ?3 h7 s( d" Y6 G, J! KAmerican market through 2007. A number of factors are working in Canada's; o2 D/ X7 s5 g |0 M2 l C3 M% @
favour, including healthy personal and governmental debt levels, the- \& Z# q+ v, v* h
relatively modest rise in interest rates in our country, and general# P- {: S5 {, U: F, z! i
affordability in our major cities. In addition, Americans are now seeing the2 W, @* w; n" {0 S; M- J! {
downside of a tax system that encourages maximum homeowner leverage, and+ \* q* K# n. t5 M/ R6 |% N
aggressive financial products such as zero- and negative-amortization
2 }( W1 W4 `* t6 T3 Y* Xmortgages that work only in a high price growth environment."7 w& [* t+ _+ r, [2 ^% j* w5 t Y
' P: q' f7 B5 z y8 p4 c
<<
- F1 A8 o) c2 \- a8 L% c I REGIONAL SUMMARIES
: o% \( U# B7 ] >>
6 J# G5 _( R2 f" M" u6 r
) Q/ Z; Q' S$ H9 P9 _ Balanced conditions continued to characterize the housing market in7 e1 f' \" t6 d0 Z
Halifax, as significantly higher inventory levels helped to moderate the rate
/ f* b8 ?$ @% m& W$ F$ y0 @3 T! pof price appreciation. Buyers were increasingly choosy, taking more time
1 U! F4 G' f$ m+ Q7 S; o- M _* Qlooking for newer, low-maintenance properties that were not in need of
6 W0 R7 Y& q& c; q! M& Z0 _2 zrenovations.( N/ @9 r' g* e( Q/ M3 u+ Q$ Y$ E' t
* G. N7 U; A* C3 I6 f
The housing market in Moncton remained healthy and strong as a slight- ?5 w; a0 a$ c: V5 O
increase in inventory helped to moderate the rate of price appreciation
- l+ X, P3 t; ^compared to the same period in 2005. Activity was brisk throughout August and
: ]+ W( r8 \4 y: p, G3 w; RSeptember and is expected to remain this way through the fourth quarter.5 ~0 H; }5 i. ^& n/ L
$ R7 ^" K Y* p& _8 R
The housing market in Saint John underwent its traditional summer
' e$ D. i1 Z( Y/ E% Yslowdown in the third quarter, with activity picking up towards the end of the; \9 U8 a& h8 l8 J/ R& X3 J
quarter. The local economy continued to thrive, as construction on a new
2 q7 a& \7 q2 a4 u600,000 square-foot shopping area has begun, bringing several new box stores# Y9 n$ {% i# f5 i1 [
to the area. Buyers have begun seeking less expensive fixtures for their homes# s3 t& K1 s* ]; t6 @8 H
and are instead opting for more affordable housing options.
' `2 k1 C: n9 S. s. g" T* Y; p+ j# X O* {
In Charlottetown, the housing market started to move towards balanced: [& U8 X. A4 e. ]6 M# g( |$ U! h
conditions, as some sellers had to begin to lower the asking prices on their
* ?/ X) \# W. u% jhomes to make them more competitive. Activity from out-of-town and US buyers" X% ]/ G1 S" r2 Z1 m. l
was down slightly compared to 2005, likely attributable to the strong Canadian4 l2 n5 f3 _4 D( V: Z% n+ f3 b
dollar. Inventory levels began to creep up in the third quarter, providing9 y# J4 }1 _. Y+ U
buyers with more options when looking for a home.4 w1 `+ |, j- P5 b
# X3 P7 P9 q2 S$ I Activity in St. John's slowed slightly in the third quarter, particularly6 Y0 r6 k$ n$ J; F7 K* d' d
among higher-priced properties, where there was a slight over-supply of homes
, }7 X# K7 x3 g$ O- H" Hpriced over $200,000. Listing periods have increased when compared with 2005,1 |: d$ ]( Y$ i
as some of the pent-up demand that had characterized the market over the last
/ g& L9 T1 b; M' Tfew years has been satisfied, resulting in more normal, balanced conditions.
( V) E" q$ t9 y/ Y' @
5 m+ @0 k! t; f' f% N' N/ p Montreal's housing market recorded modest increases in average house) `5 z w( W- t
prices, due to a slight seasonal slowdown in the third quarter as inventory$ q' D* w( l- r& R% ]0 B
levels rose. Part of this can be attributed to the fact that many renting- I6 i3 h% B4 { z# r7 C! V
first-time buyers were motivated to close on the purchase of a home by July 1,+ @0 @- V; Q9 o
when rental leases expire in Quebec. Once this date has passed some of the
- |4 B9 v3 D6 k* r: @) h! fpressure is taken off the market, allowing buyers to visit more homes before% g u, X) f5 A0 k8 }# |' _. k
making a purchase.( o! s3 ]: s1 ~- v4 _3 Q
0 `, v; V" P2 h" {: P Ottawa held its position as one of the country's most stable housing
( |, |7 R. X1 P" y4 Q9 c g! J, xmarkets in the third quarter, reinforced by a vibrant local economy and strong
6 j- t g9 r W# N* C# U- A4 a/ k8 Dconfidence, resulting in modest increases in average house prices. The city' i% |! [$ G3 j/ u2 [
centre remained a bright spot in Ottawa, with homes in this area attracting! c5 o+ }4 }9 `! P$ G! _
attention due to their convenient location and proximity to downtown
; O7 ^' U- E4 o; X3 hamenities.% c( A5 s: @# ?; ~+ W; H& B! J
, h Z+ A) I! B# I: m The housing market in Toronto sustained healthy activity levels) v5 ~! H. n! Q! g5 v7 ~$ K
throughout the third quarter, as a strong economy helped to maintain demand
- l1 K5 n9 T* u* o1 M: E7 T; s7 {across the city, causing average house prices to rise moderately. Toronto has1 n. I1 b- [% D# b2 f5 Z& p
continued to experience modest growth in average house prices, and has been5 F, \2 H1 n. }* G! q& V7 l
driven primarily by purchasers who are buying homes as their principle& v6 R# J) `1 r- L& j3 U
residence, rather than for investment.
' h7 e7 }! A* S7 A
& s' [% \& s' D! |$ j+ M) B The vibrant Winnipeg housing market continued to show its strength as
9 x' Q% |) V& Y8 N; Yhouse prices rose during the third quarter. The booming local economy resulted
; ~6 p# k1 F2 K* c% b" C2 rin a historically low unemployment rate, helping to bolster consumer
& m. g3 \, V9 P, o6 e$ Cconfidence and Winnipeg's ranking as the city with the lowest capitalization
3 `* a+ C$ A r& W& Z6 `rate among the country's larger cities - helped to encourage buyers to enter
`' W% Q; i/ ^9 }the market.5 P) ]: `! ]; y3 q" E. c5 D
8 r' z- j! s( A8 A$ z" z1 o In Regina, the market experienced a slight seasonal slowdown through
6 W/ j% i, @% _; t; E# g3 fJuly, as there were fewer purchasers in the market due to summer vacations. In
& X' Y9 `8 {7 q9 ^0 dAugust, activity resumed to the busy pace previously seen in the spring
1 c% u0 t) K- R. Z5 M2 o# dmonths, as the influx of purchasers made it more difficult to find a home due
- J$ t B6 I" o4 {to the shortage of available inventory.
$ N/ F8 Q& A2 ?/ ^. N% W
5 s3 V* j* H; [. ]% S2 ]; q/ @ Activity in Saskatoon remained brisk as the market maintained its. j$ C* o5 Y# q! J
momentum from the busy spring sales period. The economy in Saskatoon remains( E) r( u/ h. B2 s0 O% O
vibrant, as employment opportunities are abundant with many businesses* [2 F+ E) {9 y# F
struggling to make hires and having to recruit outside the province.' w; b/ @" x8 ~+ N/ {2 u b0 b
3 r- e/ K7 e3 Q Calgary's housing market recorded blazing average house price increases8 g# K. G3 S! h; Z: s: {# B! E- F
in the third quarter, in all surveyed categories. The burgeoning economy, low: G* n2 A: k( Y/ v( ^0 b3 E# |
unemployment rates and low inventory levels remained the leading factors that0 V3 a/ k7 ^: v, X3 e3 \" y! y
pressured Calgary's house prices upwards. However, regardless of the soaring
( S; V# T4 d9 C: Nprices that characterized the market - even during the typically slower summer
# Q1 W. q) _) Eseason - it is expected that activity will become slightly more balanced, as
( v+ N) Y* ]0 O) D2 D4 cbuyers are becoming more reluctant to participate in the frenetic activity.( h5 K8 \7 h5 p5 ?
) K: Q8 c9 q' b% M; {, L) d0 Y9 l Edmonton's booming local economy continued to thrive in the third quarter$ V1 P. L3 V, M& \
as activity in the oil sands north of the city continued to flourish. Edmonton/ c; A7 R4 Q. \+ S9 }8 K
remained the hub of activity for those coming to work in the oil industry,
9 L! z# x1 L0 Rmaintaining tight inventory levels across the city, resulting in prices, w R0 i+ G# C6 f
increasing at record levels. However, as inventory levels continued to improve6 c' o1 U7 M8 v9 V8 u( O7 H
in the third quarter the rate of price appreciation should moderate slightly
. H$ ]+ f- @6 w1 Vtowards the end of 2006. $ a4 ^+ m% R, U8 ~
3 @; Z1 [: _8 g$ Z+ [8 ~1 `2 _# W
While Vancouver has seen a slight reprieve from the severe shortage of
; \( a. ^, v6 T9 r7 U. O$ yinventory that had previously characterized the market, supply is still unable- c7 E7 ]1 y, \6 t7 t
to meet demand, driving house prices upwards. Vancouver has a very diverse8 }# G$ w) {. S4 k+ z6 S
group of active buyers - from first-time home buyers to baby-boomers to3 |8 e" Z5 y. B3 O* x
foreign investors - all of whom fuel the demand for houses, placing added
( w6 N3 o, x# \+ M$ n5 O: o$ ^- |7 Rpressure on tight inventory levels.0 R2 j- A& {/ ?( Y' m& ]
# l4 p( w0 i1 m- N( J
Victoria's market is vibrant and supported by strong economic# ?3 w: R+ {% h$ ^7 T% @; e% b
fundamentals, fuelled by a booming tech sector and a migration of young people
. E0 c& @3 G8 ]% c$ einto the city that has continued to support the area's house price increases;
' z i0 W6 T2 e/ lwhile increased inventory levels have afforded buyers more time when searching
3 M7 X) P n, z! S! p7 H* dfor a home, helping to normalize the market's pace.2 x) ^8 o; a0 {' N
, B, d, Z! s9 ~: e
<<3 j/ e- ~) ^1 `2 ~; t
Survey of Canadian Average House Prices in the Third Quarter 2006& T' Z7 p, {0 f8 f
, z1 X2 h/ C2 f7 O -------------------------------------------------------------------------+ [6 {' I$ Z4 }' ~7 t
Detached Bungalows Standard Two Storey+ N( A- k' y4 f$ _) f
-------------------------------------------------------------------------
& ~. h; g1 D) y 2006 Q3 2005 Q3 Bungalow 2006 Q3 2005 Q3) T# P+ {2 ~: |& ?; h D6 y
Market Average Average % Change Average Average
) i; w- h& X+ a" C' _( y -------------------------------------------------------------------------/ b5 C4 d2 e' C0 J" p
Halifax 186,333 173,333 7.5% 198,667 199,0002 P3 ~8 a; e4 d8 @4 i L
-------------------------------------------------------------------------
9 v# q& `% @ F: q) Y Charlottetown 145,000 141,000 2.8% 175,000 170,000* P( K; }+ v) ^ e# @
-------------------------------------------------------------------------
w0 @9 \7 L: A$ v# D, q Moncton 135,000 127,000 6.3% 129,000 123,000
" C/ [: |: ^6 p6 U5 z) ] -------------------------------------------------------------------------# ~6 s9 z, @; j, I* l
Saint John 141,200 142,900 -1.2% - -
& r6 {! W2 W+ _+ J$ G7 [7 A -------------------------------------------------------------------------/ R8 M* i: \% q3 m: y9 x1 n' X
St. John's 143,667 142,667 0.7% 200,667 202,333
) V$ J' J: K/ D" S& a -------------------------------------------------------------------------; v1 y: ` y2 \1 L
Atlantic 150,240 145,380 3.3% 175,833 173,583
: Q% ^0 `+ w( w6 B -------------------------------------------------------------------------
/ I! l8 a: n+ S3 l Montreal 213,691 203,500 5.0% 321,141 316,185
/ U4 K' d6 k$ Q" r3 H* K -------------------------------------------------------------------------
" F9 `& U! l7 Y2 j Ottawa 290,083 278,417 4.2% 285,667 273,2504 ^3 F5 P0 } a* y9 F
-------------------------------------------------------------------------& @1 p: \ e F2 v1 h; H7 S
Toronto 373,368 355,882 4.9% 481,523 474,766
9 M4 D1 v2 @8 Y) H: {- B! t -------------------------------------------------------------------------
; w4 Q" P% Y& d8 U! e/ U; j Winnipeg 181,579 159,860 13.6% 202,337 180,707
( N2 E4 D2 Y/ S/ \5 q3 Q u -------------------------------------------------------------------------. @0 I& S' N7 x+ K* k/ [
Saskatchewan 170,667 156,083 9.3% 182,600 166,500: O/ Y$ K( [" l0 N+ P. z, Y6 i
-------------------------------------------------------------------------% V" v- H& E p3 Z7 Y
Calgary 395,067 252,411 56.5% 405,778 264,389
% G1 @% n' a5 K! ~5 b -------------------------------------------------------------------------' I+ V9 U7 J9 p; L" W) w
Edmonton 286,857 194,857 47.2% 316,429 206,714, S+ @0 y" \! v* E+ _4 ^7 q
-------------------------------------------------------------------------
/ C' ~- @' T+ X4 v Vancouver 704,250 601,000 17.2% 794,000 697,500
- ?* G9 ]5 E N" h8 w2 {* F3 C* x7 Y) V -------------------------------------------------------------------------4 T( L2 U& k# T" {& ~
Victoria 375,000 348,000 7.8% 403,000 391,000; L. G6 W. N+ [& s* y& r
-------------------------------------------------------------------------6 J) S# ^' Y7 J, X
National 300,365 258,202 16.3% 365,380 322,860
6 I' n: i- s+ O) c5 S, t2 n0 o -------------------------------------------------------------------------
i* c6 g7 P# H d! u
. l% a* I! q9 c' R: {) f9 P. V% y -------------------------------------------------------------/ _& {) E" d, h; c
Standard Condominium
! F: |) T/ C" U: v, \. {4 f9 p, N -------------------------------------------------------------9 }8 l f @" W0 M+ D' w! A
2-Storey 2006 Q3 2005 Q3 Condo% g! E' v3 H4 ]+ k/ p- a' A
Market % Change Average Average % Change
( j! d9 H' T% V% Y -------------------------------------------------------------8 H; @8 Q9 T, g4 U+ D& T! K
Halifax -0.2% 142,000 103,000 37.9%8 A- u u5 Z) G; C. D
-------------------------------------------------------------. ^. t- S, c8 X' S: V
Charlottetown 2.9% 98,000 98,000 0.0%
$ I, T+ ?& m+ f6 @6 v6 N* G" c! _ -------------------------------------------------------------9 q$ B5 Y9 y' ~8 ?5 e/ w) H! n
Moncton 4.9% - - N/A
: y: \8 a/ W$ e: I+ _/ u% J -------------------------------------------------------------
5 A3 K3 g$ X" X Saint John N/A - - N/A
9 Y" ^* D" g& Z7 @+ u -------------------------------------------------------------
# e0 a: B- L) j7 @2 z: ` St. John's -0.8% 146,333 145,667 0.5%
% u; j1 g) O( X; C' B0 k- O -------------------------------------------------------------4 \3 E( H$ c* M% K- Z6 [
Atlantic 1.3% 128,778 115,556 11.4%' c2 c( H2 f) A- W3 Y" D+ [
-------------------------------------------------------------% h! H+ i" U+ k' I
Montreal 1.6% 193,190 188,016 2.8%
- \: H5 Z9 ^+ Z+ U- N* r2 ] -------------------------------------------------------------
* ^+ |% g* c" X u B Ottawa 4.5% 181,083 172,250 5.1%1 u: P; z! j" J
-------------------------------------------------------------. X8 Y& [# h( y, U, ^1 L& j
Toronto 1.4% 252,088 242,918 3.8%
7 u7 S3 ?* H0 S' ~- k' l' _ -------------------------------------------------------------
( H7 V. r' S3 T' \5 @& B Winnipeg 12.0% 105,648 96,008 10.0%
% e$ {/ a( s* K; N3 d4 k! A$ o -------------------------------------------------------------
! T5 @: s; {3 V; [/ g1 @+ v/ X( q Saskatchewan 9.7% 106,250 101,000 5.2%' ~1 q/ y# f7 ^: K9 Z
-------------------------------------------------------------% j3 D9 N" I% s& ?: D: k
Calgary 53.5% 245,844 153,867 59.8%$ ~' T' B& F' @
-------------------------------------------------------------
% U. w6 N U5 l$ K, O7 o Edmonton 53.1% 200,433 131,500 52.4%
: V1 ]5 t1 z, l( A' A -------------------------------------------------------------- g3 H) o. \% t, @$ Y: @) ^7 P8 }
Vancouver 13.8% 366,250 323,250 13.3%: O1 x. ~3 h% ^# C$ w
-------------------------------------------------------------
8 r3 f4 M9 U6 _# w! [! }$ K0 Q0 \ Victoria 3.1% 229,000 220,000 4.1%
0 O; R. t# }' B7 Q -------------------------------------------------------------
( w) M3 n' b2 \7 ^( a9 Q/ m National 13.2% 211,562 185,296 14.2%6 }# J: s. H m: v+ v
-------------------------------------------------------------/ |6 u" V2 u! U- A
>>
( c. K9 H9 o- i/ a& Z! \$ N
5 y( r& ?* L. y& c$ a Average house prices are based on an average of all sub-markets examined( \% z+ I% Q7 Z+ m O8 d
in the area, except for the smaller markets of Charlottetown, Moncton, Saint" m6 \( Q' Y D# `9 v0 X8 m
John and Victoria.
# t7 e. A* _0 E2 r m0 i8 ~* h1 ^8 D( M$ g9 ~
The Royal LePage Survey of Canadian House Prices is the largest, most# h& o1 d, e; i4 \. i, w$ N
comprehensive study of its kind in Canada, with information on seven types of
* x2 U: r6 V! g2 D$ nhousing in over 250 neighbourhoods from coast to coast. This release
/ q* J. l6 J: c- c6 |references an abbreviated version of the survey, which highlights house price
7 Z: f* G. ^! m8 T t, _trends for the three most common types of housing in Canada in 80 communities
2 l/ d( H) g, [! sacross the country. A complete database of past and present surveys is
6 `: E# }4 L$ U8 l; savailable on the Royal LePage Web site at www.royallepage.ca, and current! v) f. u8 @/ P% E, F g
figures will be updated following the end of the third quarter. A printable- b' E- ^# J$ Q
version of the third quarter 2006 survey will be available online on5 I0 G2 s% I3 M4 O
November 15, 2006.5 z, n9 |8 Q+ U4 t) I
Housing values in the Royal LePage Survey are Royal LePage opinions of- w6 L: @9 B6 v/ Y* P
fair market value in each location, based on local data and market knowledge
' V: T6 Y& o' g/ Cprovided by Royal LePage residential real estate experts. Historical data is+ N" E% q# W: a
available for some areas back to the early 1970s. |
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