Here's your inflation
Data from CREA continues to show a booming housing market as interest rates hit rock bottom.
- Home prices avg +6.9% y/y in Sept
- Non-seasonally adjusted Sept sales volumes +0.7% vs prior year
- Canadian home sales seasonally adjusted -2.1% m/m in Sept
Home prices in Canada have been a runaway train for years. There are no real signs of a correction despite the recession this year but the fall in volumes in the most recent month is a bit of a concern.