Has Canadian real estate finally peaked? - MoneySense

Has Canadian real estate finally peaked?

Second half of 2011 expected to be slower for real estate market

by

Canadian real estate prices are expected to slow in the second half of 2011, said Royal LePage Real Estate Services in a market update on Thursday.

Prices steadily rose over the first two quarters of 2011 with a standard two-storey home up 6.1%, a bungalow up 7.5% and a condo up 3.5%.

By the end of 2011 the national prices are expected to be up a total average of 7.7% from 2010.

Vancouver experienced some of the largest price increases with standard two-storey homes rising 12%, but Regina took the lead as the city with the highest year-to-year increase. Thanks to a strong local job market, standard two-storey homes rose 15.6%.

On the other hand, Calgary actually had a price decline from 2010.