Vancouver Market: Canadian Real Estate Boards

Canadian Real Estate Boards: In fact, the Canadian housing market is now calm, cool and collected, notes Porter in the wake of the release of housing numbers that show sales edged up just slightly in April from March but declined 3.1 per cent year over year, according to The Star. Even the Vancouver market, where monthly sales declines since last summer at times hit double digits, sales overall are down a moderate six per cent, Porter noted after the release Wednesday of the Canadian Real Estate Boards monthly state-of-the-market report and Fears of a housing meltdown are unfounded and the Canadian housing market will be able to pull off the fabled soft landing, says BMO chief economist Doug Porter. While some are highlighting the fact that prices are now rising at their slowest pace since the 2009 recession, the plain facts are that they are still rising faster than inflation, and prices are at all-time highs, suggesting concerns of a meltdown were unfounded. (www.immigrantscanada.com). As reported in the news.