Housing sector prices fall plagues Canada for last three quarters






Surveys have confirmed that the average inflation related house price declined in the third quarter this year. The trend of decline in real estate is, also, seen in other advanced and developing countries.  However, households and investors are tending to be careful in pricing trends. But average prices increased or declined within a range of 4 per cent upside or downside in 12 of 17 countries surveyed. 

In the U.S. home prices showed an upward trend and rose by 5 percent in the same quarter. But average house prices in the U.S. are still 30 percent lower than that recorded in 2005.

An evaluation by cotiabank economists depicts that  the housing sector in Canada is presenting a gloomy picture and is moving very slowly. The average inflation adjusted housing prices showed a decline of about 1.5 per cent below the levels of 2011 in the same quarter.


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