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Latest Housing forecast document from RBC Economics giving mixed reviews to Canada’s housing markets. Better check out your region
- Canada’s housing market is poised to post one of its best years on record in 2015 despite the Canadian economy being hit by a significant negative shock (plunge in oil prices) and a spike in condo completions. Low interest rates continue to provide substantial stimulus for housing demand at this stage.
- Strong momentum is not equally shared across the country, however, with home resale activity plummeting in oil industry sensitive markets (Alberta and Saskatchewan) contrasting with record or near-record levels in Ontario and British Columbia.