- Prices up record 29.2% y/y
- Seasonally adjusted sales +4.6% in Feb
- Non seasonally adjusted sales -8.2% in Feb
I've noticed some recent softening in Canadian home prices with the kinds of homes that used to sell in days, sitting on the market for longer. I strongly believe we're in the final phases of a bubble and with interest rates set to quickly rise, it won't be long before we find out if I'm right.
In the mean time, with Canadian prices up another 3.5% in the month and averaging close to $1 million. That's another $35,000 in a month in home equity for Canadian home owners. Why bother working?
Here's what C$1.7m will get you on the worst corner in downtown Toronto.
