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A Tale of Two Quarters for Canada’s Luxury Real Estate
Mid-Year Highlights Canada’s luxury market is normalizing following its historically anomalous performance as rising mortgage rates, escalating inflation and global geo-economic headwinds progressively temper real estate consumer sentiment. Near-term hesitancy masks strong demand for housing and housing mobility, and consumer confidence in the long term fundamentals of top-tier real estate remains strong. The top-tier condominium market remains resilient in a rebalancing market, bolstered by multi-generational consumer demand, and housing affordability challenges that is channeling prospective buyers into high-density housing. Calgary led Canada’s major metropolitan markets in percentage sales gains across the $1 million-plus residential market as overall activity rose 40{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} year-over-year and $1 million-plus single family home, attached home and…
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a Cautionary Tale for US Real-Estate Market
Canada’s housing market place is in overdrive as price ranges soar to record highs. That is mainly because, like in the US, there usually are not plenty of residences for sale to meet up with desire. The US housing sector is commencing to resemble Canada’s — that should be a cautionary tale for all. Loading A thing is loading. Canada’s housing marketplace is in overdrive as housing affordability sinks — it appears also familiar to Us residents. The countrywide typical residence selling price in Canada climbed to 816,720 Canadian dollars in February, hitting a file high, in accordance to the Canadian Actual Estate Association, and a value 50{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} better than…
