Canadian housing market more balanced

Not so long ago there was concern that the market for real estate in Canada was approaching bubble territory but according to several experts the market is beginning to moderate.

Latest figures from the Canadian Real Estate Association (CREA) show a rise of around 5 per cent in the price of residential property for sale in Canada during March when compared to the same month in 2011. Although house prices across the country are continuing to appreciate the rate at which they are increasing has begun to slow down.

CREA President, Wayne Moen, believes that across Canada price trends are continuing to moderate since last autumn when price increases began to diminish, however he also highlighted the fact that pricing trends can vary enormously from region to region and advised potential buyers and sellers alike to consult local realtor professionals before taking the plunge.