The February home resale numbers from the Canadian Real Estate Association were good enough for the organization to up its forecast for the year. CREA has gone from projecting a slight, 1.1% decrease in sales to a slight, 1.0% increase.
But the figures are still a tale of two markets: the red hot big cities of Toronto and Vancouver and the rapidly cooling, oil dependent zone ...
The latest eye-popping numbers from the Toronto and Vancouver real estate boards have once again raised the spectre of an affordability crisis.
National averages can be deceiving especially in light of the stratospheric prices in the country's two hottest markets. But popular measures of affordability can also be misleading because of their narrow terms of reference.