This real estate market is just right - MoneySense

This real estate market is just right

Economists think the market may have hit a trough.

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Canada’s resale housing market may have hit its “Goldilocks moment”, according to BMO Nesbitt Burns deputy chief economist Douglas Porter.

The market has come down from the dizzying heights of 2009, where sales records were being set almost monthly. Economists are now suggesting that with average prices sliding towards levels not seen since 2000, it may have entered a trough.

Upward pressures such as lower prices and sales are being countered by lower employment and income growth, leaving the market at a safe, sustainable level which Porter describes as “something closer to normalcy.”

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