Scotiabank says Canada’s shifting to impact housing demand
TORONTO: The long-anticipated slowdown in Canadian housing activity is well underway, according to Scotiabank Senior Economist and Real Estate Specialist Adrienne Warren. Home sales have dropped more than 10% from last spring, and are now running below historical averages in most major cities, Ms. Warren said today in a presentation at the Scotiabank Real Estate Market Outlook Conference in Toronto. Prices in turn are levelling out, with the return of balanced market conditions. Demographic shifts - particularly Canada’s aging population - will have important implications for housing demand in coming decades,” she added. “Contrary to some dire predictions.