Housing Market: Canada

Current Valuations Dept: The report says housing prices are beginning to level out and home building rates are decreasing, in response to the market getting back into balance, according to CTV. Investors also appear more reluctant to enter the market at current valuations. An anticipated softening in the pace of job growth in Canada would reinforce the slowing. TORONTO -- Canada's housing market is expected to continue to soften this year, as fewer people look to buy and home construction begins to slow down, according to report released Monday. We expect the reduced momentum in sales and construction will continue in 2013. High home prices and tougher mortgage financing rules are tempering demand, especially among first-time buyers, wrote Adrienne Warren, a senior economist with Scotiabank TSX:BNS . (www.immigrantscanada.com). As reported in the news.