Real Estate News Headlines // September 3rd 2014
What is happening in the Canadian Real Estate Market?
Canada’s housing market is 10% overvalued, with the biggest risks in condominium overbuilding and uncertainty over how many investors are buying, but the risk of a U.S.-style collapse is low, a top executive at Canada’s second largest bank said on Monday.
The oilpatch set a new record for condominium resale activity for the month of August with a 14% increase in sales from a year ago. Townhouse sales were even stronger with a 20% jump from a year ago.
Officials are working with house builders, developers and real-estate agents to find ways of providing easy-to-understand information about Edmonton development plans.
Calgary’s hot resale housing market showed no signs of cooling off in August as sales and prices continued to climb with the condo market setting a monthly record.