Canadian Housing Market Continues Its Healthy Upward Trend
The Canadian housing market continues its healthy upward trend across the country, with significant increase in both number of sales and sale value. This trend is expected to continue through to early Spring as we approach the upcoming changes to mortgage qualification rules.
Buyers in Ontario and British Columbia are aware of two key changes that could impact their purchasing ability. The new mortgage rules coming in April, plus the Harmonized Sales Tax in July.
“The upcoming changes to mortgage qualification rules and impending mortgage rate increases may prompt some buyers to enter the market earlier and cause some additional slowdown in the third quarter,” said Larry Westergard, president of the REALTORS® Association of Edmonton.
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