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http://ca.news.finance.yahoo.com ... drop-next-year.html9 g+ i2 c) ~" n) o
+ T/ X$ _9 j3 O! F: lHot housing market to cool, prices will drop next year, TD Bank saysWed May 5, 10:18 AM
+ W( y$ @8 S# \6 Q3 V vThe 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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$ L* b: ~1 L( I3 l) N" `The 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.
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1 f$ T4 e) o8 }" i. I0 w0 tThe bank says with home construction stronger than expected, the added supply will soon begin affecting prices.
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2 V' L! ~5 R4 a) rThe first half of this year has been hotter than expected, and the second half will be cooler, the bank says.
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' @3 M+ G2 L0 y: P( h4 n" yTD 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.
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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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