Property sales in Canada stronger than expected

[Nicholas Wallwork]

The Canadian Real Estate Association has revised its forecast for residential property sales as transaction activity and prices were stronger than expected in the second quarter of the year. Sales momentum was also better than expected heading into the third quarter. As a result, the 2011 national forecasts for sales activity and average price have [...]

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[upen]

But now the whole industry is going down because of slow economy. What you say?

 

[Albufeira_Paul]

I attended university in Vancouver between 2001-2005 and I remember thinking how expensive the prices were (and I grew up in Connecticut which is not cheap). I keep on reading how they have gone up so much that prices are more expensive than Manhattan. Vancouver is a very nice city, but the wages are not up to par with the property prices. If ever there was a housing market in need of a correction it's Vancouver's.

 

[Dave_Velasco]

Canada must have been encountering serious economical downfall, and possibly due to the global recession that happened which probably hit them too.