Canadian Home Sales Boosted by price growth slowdown,stricter rules
The recent decline in Canadian real estate prices and tougher regulations that will take effect on January 1 are impelling sales. Brokers reported a 3.9% jump in transactions in November, the Canadian Real Estate Association said in its data release late last week. This represented the second biggest increase in two years, as well as the fourth consecutive rise in transactions (the longest streak since early 2016). Canadian home prices have moderated in the second half of 2017, after various levels of governments took steps to cool things down. The country’s main banking regulator introduced stress tests for mortgages last month, and buyers may be rushing to get into the market before those rules kick in at the start of 2018.
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