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http://ca.news.finance.yahoo.com ... drop-next-year.html
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3 @6 p3 D# R- x' J- [Hot housing market to cool, prices will drop next year, TD Bank saysWed May 5, 10:18 AM' M, H$ i0 q F% W) ^
The Canadian Press
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OTTAWA - The TD Bank says home sales will be significantly lower in the second half of this year and next — and prices are dropping too.
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3 {2 H8 c2 C7 G% RThe new outlook is in accord with previous expectations, with the exception that TD now believes the slowdown from the current hot housing market to be sharper.. _6 y2 u2 [; q1 K( g; D2 Z
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The bank says with home construction stronger than expected, the added supply will soon begin affecting prices., ~/ q! J0 z9 \
3 l% f) Q* B, H9 E9 B hThe first half of this year has been hotter than expected, and the second half will be cooler, the bank says.
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TD says it had expected existing home prices next year to gain a modest 1.6 per cent, but now believes they will actually fall about 2.7 per cent on average.4 G2 S5 t1 j, D: g
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The bank says prices will drop next year in seven of Canada's 10 provinces, with the three prairie provinces breaking the trend. |
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