Canada's Housing Bubble

Feb 19, 2010 CHQR Newsroom

A new Conference Board of Canada report shows Calgary housing prices dropped significantly last month compared to the end of 2009.
The average price in the market was $394,493 in January compared to $411,619 in December 2009.
But prices are still above what they were at the beginning of last year when the average home sold for $373,544.
The report also shows there were more than 42,000 listings in the Calgary market and over 21,000 sales last month.
The review of all major cities in Canada found the majority are balanced markets, however, it has become a seller's market in Ontario and Quebec.