How's the housing market in Canada?

Question

As in buying and selling. Is it booming or crashing and burning like the US?

Answer 1

Canada is a HUGE country and so the housing market varies from location to location so there is no simple way to answer your question. You can try going through http://www.mls.ca

Answer 2

It's not as lively on the whole as it was, though some places are still doing fine. We haven't seen any huge drops in prices, mostly we're seeing lots of houses for sale and smaller price increases than we've had lately, or none.

Answer 3

The economy in Canada has NOT been as affected as that of the USA, mainly because  we didn't ;t allow the lenders to offer such high risk mortgages. Here in  Canada, we have national regulations  that prohibit such things as "zero down "mortgages. Here you  have to actually have enough monthly  income to be able to qualify for the loan.

A second factor is that our economy is still growing and our unemployment rates are lower, per capita  than in the  USA. We don;t have the huge foreclosure problem either. Overall our  economy is in better shape than yours is.

So much so that many wealthy  Canadians are buying " foreclosure properties in Arizona " for  peanuts, to hold for a future rebound of the US housing market.

Jim B. Toronto.

Answer 4

Depends on where.  There are places where it has been in the toilet for years and places where it is booming.