Housing Market Weakens in Western Canada

iHere are the latest Vancouver area housing statistics for October (thanks to VHMB):

  • House listings in October:  +19%
  • Condo listings in October:  +29%
  • October house sales:  -13%
  • October condo sales:  -19.5%

The above figures represent year-over-year data (e.g.  October 2006 vs. October 2005).  Read more of VHMB’s post:  here

Other notables:

  • Parts of Alberta are also cooling off ( Edmonton Sun Story)
  • 42% of Vancouver condos coming to market 9/1 to 10/31 remain unsold ( Vancouver Sun Story )
  • Calgary prices still rose 1.1% in October despite a flood of new listings ( Calgary Sun story )
  • Toronto’s housing prospects aren’t much better.  This Toronto Star article cites forecasts of only 1.8% gains in 2007, the lowest in 10 years.
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