Sco­tia­bank says Canada’s shift­ing to im­pact hous­ing de­mand

The Pak Banker - - 6BUSINESS -

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.

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