More price growth for Canadian homes
Prices of residential property in Canada increased by 0.7 per cent last month when compared to June but experts believe the strength of price growth is beginning to diminish. According to reports from various sources of the housing industry this is the fifth consecutive monthly increase, however the strength of house price growth was more moderate than in some previous months. Reforms to Canada mortgages cooled the level of activity in many local markets in the short term but the market appears to have adjusted and while some industry experts continue to warn of the possibility of a housing bubble similar to the one that decimated many regions of the USA real estate market there is no hard evidence to suggest a crash is imminent. Affordability issues are surfacing in some regions of the market but houses are still selling and home ownership remains a priority for many Canadian families.